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History of Law and Economics

Author

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  • Martin Gelter

    (Fordham University School of Law)

  • Kristoffel Grechenig

    () (Max Planck Institute for Research on Collective Goods & Amsterdam Center for Law & Economics (ACLE))

Abstract

The roots of law & economics lie in late 19th century continental Europe. However, this early movement did not persist, having been cut off in the 1930s. After World War II, modern law & economics was (re-)invented in the United States and subsequently grew into a major field of research at U.S. law schools. In continental Europe, law & economics was re-imported as a discipline within economics, driven by economists interested in legal issues rather than by legal scholars. Hence, the European discourse was more strongly influenced by formal analysis, using mathematical models. Today, research in the U.S., Europe, and in other countries around the world, including Latin America and Asia, uses formal, empirical, and intuitive methods. New subfields, such as behavioral law & economics and experimental law & economics, have grown in the U.S. and in Europe during the past two decades.

Suggested Citation

  • Martin Gelter & Kristoffel Grechenig, 2014. "History of Law and Economics," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2014_05, Max Planck Institute for Research on Collective Goods.
  • Handle: RePEc:mpg:wpaper:2014_05
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    File URL: http://www.coll.mpg.de/pdf_dat/2014_05online.pdf
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    References listed on IDEAS

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    2. Christoph Engel, 2010. "The Multiple Uses of Experimental Evidence in Legal Scholarship," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 166(1), pages 199-202, March.
    3. Gary S. Becker, 1981. "A Treatise on the Family," NBER Books, National Bureau of Economic Research, Inc, number beck81-1, July-Dec.
    4. Gary S. Becker, 1974. "Crime and Punishment: An Economic Approach," NBER Chapters,in: Essays in the Economics of Crime and Punishment, pages 1-54 National Bureau of Economic Research, Inc.
    5. Mattei, Ugo & Pardolesi, Roberto, 1991. "Law and economics in civil law countries: A comparative approach," International Review of Law and Economics, Elsevier, vol. 11(3), pages 265-275, December.
    6. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73, pages 110-110.
    7. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73, pages 351-351.
    8. Kirchner, Christian, 1991. "The difficult reception of law and economics in Germany," International Review of Law and Economics, Elsevier, vol. 11(3), pages 277-292, December.
    9. Michael Litschka & Kristoffel Grechenig, 2010. "Law by human intent or evolution? Some remarks on the Austrian school of economics’ role in the development of law and economics," European Journal of Law and Economics, Springer, vol. 29(1), pages 57-79, February.
    10. Weigel, Wolfgang, 1991. "Prospects for law and economics in civil law countries: Austria," International Review of Law and Economics, Elsevier, vol. 11(3), pages 325-329, December.
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