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Economic Analysis of Law

Author

Listed:
  • A. Mitchell Polinsky

    (Stanford University)

  • Steven Shavell

    (Harvard University)

Abstract

This entry for the forthcoming The New Palgrave Dictionary of Economics (Second Edition) surveys the economic analysis of five primary fields of law: property law; liability for accidents; contract law; litigation; and public enforcement and criminal law. It also briefly considers some criticisms of the economic analysis of law.

Suggested Citation

  • A. Mitchell Polinsky & Steven Shavell, 2005. "Economic Analysis of Law," Discussion Papers 05-005, Stanford Institute for Economic Policy Research.
  • Handle: RePEc:sip:dpaper:05-005
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    File URL: http://www-siepr.stanford.edu/repec/sip/05-005.pdf
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    References listed on IDEAS

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    32. Louis Kaplow & Steven Shavell, 2001. "Any Non-welfarist Method of Policy Assessment Violates the Pareto Principle," Journal of Political Economy, University of Chicago Press, vol. 109(2), pages 281-286, April.
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Tim Friehe, 2009. "Escalating penalties for repeat offenders: a note on the role of information," Journal of Economics, Springer, vol. 97(2), pages 165-183, June.
    2. Paresh Kumar Narayan & Ingrid Nielsen & Russell Smyth, 2010. "Is There a Natural Rate of Crime?," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(2), pages 759-782, April.
    3. Mitchell Berlin & Yaron Leitner, 2005. "Courts and contractual innovation: a preliminary analysis," Working Papers 05-27, Federal Reserve Bank of Philadelphia.
    4. Alain Marciano, 2007. "Value and exchange in law and economics: Buchanan versus posner," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 20(2), pages 187-200, September.
    5. Alain Marciano & Sophie Harnay, 2008. "Posner, Economics and the Law: from Law and Economics to an Economic Analysis of Law," ICER Working Papers 09-2008, ICER - International Centre for Economic Research.
    6. Virginia Rosales-López, 2008. "Economics of court performance: an empirical analysis," European Journal of Law and Economics, Springer, vol. 25(3), pages 231-251, June.

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    More about this item

    Keywords

    law and economics; property law; liability for accidents; contract law; litigation; public enforcement; criminal law;
    All these keywords.

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
    • K14 - Law and Economics - - Basic Areas of Law - - - Criminal Law
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • P14 - Economic Systems - - Capitalist Systems - - - Property Rights
    • P48 - Economic Systems - - Other Economic Systems - - - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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