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History of Law and Economics

Author

Listed:
  • 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 Behavioral Economics 2014_05, Max Planck Institute for Behavioral Economics.
    • 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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    Cited by:

    1. Julia M. Puaschunder, 2021. "Law and Economics," RAIS Conference Proceedings 2021 0117, Research Association for Interdisciplinary Studies.

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