scholarly journals The Evolution of Common Law: Revisiting Posner, Hayek & the Economic Analysis of Law

2014 ◽  
Author(s):  
Marianne Ojo
Keyword(s):  
Economic Analysis ◽  
Common Law ◽  
Economic Analysis Of Law

scholarly journals Ordinea oamenilor liberi. O scurtă incursiune în istoria analizei economice a dreptului

2021 ◽  
Vol 65 (4) ◽  
pp. 39-121
Author(s):  
Lucian Bercea ◽  
◽  
Dan-Adrian Cărămidariu ◽  
Keyword(s):  
Economic Analysis ◽  
Common Law ◽  
Company Law ◽  
The Other ◽  
Economic Science ◽  
Legal Analysis ◽  
Economic Analysis Of Law ◽  
Anglo Saxon ◽  
Legal Thinking ◽  
The One

"About half a century after the formation of the current of legal thinking called law & economics, it is evident that the application of instruments, ideas and concepts with which economic science operates in legal analysis and the evaluation of law based on its finalities and its economic challenges are a severe challenge for lawyers, even for those in common law systems. Virtually challenged and, to the same extent, defended, deconstructed and reformulated, through the contribution of sociology, psychology and behavioural studies, the economic analysis of law has followed the developments that have marked the economic science of recent decades. It has finally managed to penetrate those legal systems and doctrines that have been refractory, by tradition, to any attempt of legal contamination, especially if it came from the Anglo-Saxon space. The present study attempts to explore the origins and intellectual foundation of the economic analysis of law while presenting the main criticisms and reconsiderations of this influential current of thought by referring, on the one hand, to several applications of it, in property law, contracts and company law, and, on the other hand, to some of the main contributions which have marked the current in its evolution and which should be essential readings for the lawyer who, formed in a hyper-positivist legal system of education, seeks alternatives for understanding and deepening the law. In other words, the present study aims to contribute to the circulation of ideas and names that have lingered far too foreign to the Romanian jurist."

scholarly journals Debating Law’s Irrelevance

2014 ◽  
Vol 2 (2) ◽  
pp. 159-213 ◽  
Author(s):  
Steven G. Medema
Keyword(s):  
Twentieth Century ◽  
Economic Analysis ◽  
Social Cost ◽  
Common Law ◽  
Legal Issues ◽  
Coase Theorem ◽  
Economic Analysis Of Law ◽  
Legal Scholarship ◽  
Classic Article ◽  
The 1960S

Ronald Coase’s classic article, The Problem of Social Cost, is widely credited with playing a significant role in the development of the economic analysis of law—one of the most influential new movements in legal scholarship in the last third of the twentieth century. The traditional history here is that this impact came via two routes: one, through the effect of Coase’s article in stimulating economists to analyze issues that had traditionally been the province of legal scholars (that is, Coase as a stimulus for “economics imperialism”); and two, through Coase’s impact on the thinking of Richard Posner, who was moved to examine the efficiency of common law rules in part by his encounter with Coase’s remarks regarding the propensity of judges to make decisions that accorded with economists’ sensibilities. While each of these historical claims is true enough, the lines of scholarship that they reference commenced only in the 1970s. The genesis of the application of Coase’s insights—and, in particular, the negotiation result that came to be known as the “Coase theorem”—to legal issues came in the first half of the 1960s, and significantly, the roots of this work lie in the legal community, rather than the economics community.

Behavioral Law and Economics

2018 ◽  
Author(s):  
Eyal Zamir ◽  
Doron Teichman
Keyword(s):  
Economic Analysis ◽  
Bounded Rationality ◽  
Law And Economics ◽  
Empirical Studies ◽  
Securities Regulation ◽  
Critical Examination ◽  
Entire Body ◽  
Economic Analysis Of Law ◽  
Behavioral Law And Economics ◽  
The Impact

In the past few decades, economic analysis of law has been challenged by a growing body of experimental and empirical studies that attest to prevalent and systematic deviations from the assumptions of economic rationality. While the findings on bounded rationality and heuristics and biases were initially perceived as antithetical to standard economic and legal-economic analysis, over time they have been largely integrated into mainstream economic analysis, including economic analysis of law. Moreover, the impact of behavioral insights has long since transcended purely economic analysis of law: in recent years, the behavioral movement has become one of the most influential developments in legal scholarship in general. Behavioral Law and Economics offers a state-of-the-art overview of the field. The book surveys the entire body of psychological research underpinning behavioral analysis of law, and critically evaluates the core methodological questions of this area of research. The book then discusses the fundamental normative questions stemming from the psychological findings on bounded rationality, and explores their implications for establishing the aims of legislation, and the means of attaining them. This is followed by a systematic and critical examination of the contributions of behavioral studies to all major fields of law—property, contracts, consumer protection, torts, corporate, securities regulation, antitrust, administrative, constitutional, international, criminal, and evidence law—as well as to the behavior of key players in the legal arena: litigants and judicial decision-makers.

Economic Analysis of Law

1977 ◽  
Vol 71 (1) ◽  
pp. 422 ◽  
Author(s):  
Malcolm Feeley ◽  
Richard A. Posner
Keyword(s):  
Economic Analysis ◽  
Economic Analysis Of Law
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