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Ekonomická analýza práva
[Economic analysis of law]

Author

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  • Robert Holman

Abstract

Economic analysis of law concerns predicting impacts of legislative rules on incentives and behaviour of individuals and judging social efficiency of alternative legislative rules. It applies price theory, welfare theory and public choice theory on creating and applying law. One of its main shortcomings however is the lack of criteria of social efficiency. Modern history of economic analysis of law begins within the framework of property rights and transaction costs theories. The Chicago school has been the most prominent group of economists. Austrian school and New institutional school compete with Chicago school in applying different methods of economic analysis on law. Chicago approach is based on assumptions of rational economic behaviour and stable preferences. In the centre of Chicago paradigm lies Richard Posner's efficiency thesis predicting that law rules develop in efficient ways. Austrian school criticizes Chicago school positivism from the perspectives of methodological subjectivism.

Suggested Citation

  • Robert Holman, 2004. "Ekonomická analýza práva
    [Economic analysis of law]
    ," Politická ekonomie, University of Economics, Prague, vol. 2004(4), pages 519-531.
  • Handle: RePEc:prg:jnlpol:v:2004:y:2004:i:4:id:474:p:519-531
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    Citations

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    Cited by:

    1. Dagmar Brožová, 2010. "Antidiskriminační zákon a jeho ekonomické a právní souvislosti z pohledu liberální ekonomie
      [Antidiscrimination Act and Its Economic and Legal Connections from the Liberal Economic View]
      ," Politická ekonomie, University of Economics, Prague, vol. 2010(3), pages 357-373.
    2. Walter Block, 2011. "Destined For Failure: American Prosperity In The Age Of Bailouts," Romanian Economic Business Review, Romanian-American University, vol. 6(1), pages 189-216, March.
    3. Pavol Minárik, 2012. "Copyright a právo na překlad: ekonomická analýza
      [Copyright and the Right to Translation: An Economic Analysis]
      ," Politická ekonomie, University of Economics, Prague, vol. 2012(1), pages 101-112.
    4. Orgoník, Martin, 2009. "Potentialities of Economic Analysis of International Trade Law," Annals - Juridical Science Series, Constantin Brancusi University, Faculty of Juridical Sciences, vol. 1, pages 79-92, May.
    5. Luděk Kouba, 2009. "Návrh klasifikace soudobých sociálně-ekonomických přístupů k teorii růstu
      [The Proposal of Original Classification of Contemporary Social-Economic Approaches to the Growth Theory]
      ," Politická ekonomie, University of Economics, Prague, vol. 2009(5), pages 696-713.

    More about this item

    Keywords

    property rights; transaction costs; methodological individualism; subjectivism; economic analysis of law; rational choice; social institutions; positivism; common law; social efficiency;

    JEL classification:

    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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