descriptionPublicationkeyboard_double_arrow_right Part of book or chapter of book , Other literature type 01 Jan 1987Publisher:Edward Elgar Publishing

Authors: David D. Friedman;

doi: 10.4337/9781849808057.00029 , 10.1007/978-1-349-21315-3_47 , 10.1057/978-1-349-95121-5_693-1 , 10.1057/9780230226203.2937 , 10.1007/978-1-349-20313-0_21 , 10.1057/978-1-349-95189-5_693

Law and Economics

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Abstract

The economic analysis of law involves three distinct but related enterprises. The first is the use of economics to predict the effects of legal rules. The second is the use of economics to determine what legal rules are economically efficient, in order to recommend what the legal rules ought to be. The third is the use of economics to predict what the legal rules will be. Of these, the first is primarily an application of price theory, the second of welfare economics and the third of public choice.

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