Costs and Cautionary Tales : Economic Insights for the Law.

Half Title Page -- Half Title verso -- Title Page -- Title verso -- Preface -- Contents -- 1. Setting the Scene -- Intellectual Inferiority Complex, but not in Chicago -- Six Landmark Contributions to the Economic Analysis of Law -- Mathematics, Science and Plausibility -- Efficiency and the Normative Dimension -- A Look Forward -- 2. Law and Wealth Creation -- Introduction: Lawyers as Designers and Disputants -- Property Rights -- Business Organisational Forms -- Default Rules -- Conclusions -- 3. The Structure of the Law -- Introduction: Classification is Important -- Mapping the Legal System -- Contract or Tort -- Property Rights and Tort Actions -- Private Law and Regulatory Standards -- Conclusions -- 4. Implicit Pricing and Behavioural Incentives -- Introduction: Why Obey the Law? -- External Inducements: The Basic Ideas -- A Taxonomy of External Inducements -- Enforcement Costs -- Costs of Targeting the Sanction -- The Normative Alternative: Reference to the Harmfulness of the Activity -- Informal Costs -- Corporate Actors -- Information Costs -- Conclusions -- 5. Risk Allocation and Risk Management -- Introduction: Railways, Rings and Russia -- Limiting Liability: Foreseeability -- Contractual Risk Allocation: Individual Autonomy or "Fair Shares"? -- Ex Post Adjudication and Ex Ante Analysis -- Subjectivity and Risk Management -- Uncertainty of Risks and the Precautionary Principle -- Conclusion -- 6. Corrective Justice: Damage, Causation and Responsibility -- Introduction: The Puddle and the Sauna -- Causation and Coasean Reasoning -- Liability for Negligent Omissions -- Coming to a Nuisance -- Requirement of "Damage" -- Types of Damage -- Conclusion -- 7. Wrongdoing and Welfare Maximisation -- Introduction: Publishers Punished andDevelopers Disgorged -- When Should Wrongdoing be Treated asGenerating Welfare Gains?.

Classification of Legal Entitlements -- Injunctions and Interference with PropertyRights in Land -- Efficient Breaches of Contract -- Regulatory Contraventions -- Conclusions -- 8. Protecting the Disadvantaged -- Introduction: Crossing the Road Safely? -- Distributive Justice -- Paternalism -- Conclusions -- 9. Lawyers and their Influence on the Law -- Minks, Accident Compensation and Conveyancing -- Legal Formalities -- Legal Complexity -- Legal Jargon -- Remuneration and Competition Between Lawyers -- Legal Culture and Competition Between LegalSystems -- Conclusions -- 10. Conclusions: Is There an Economist in the House? -- Introduction -- Formal Requirements of Economic Analysis:Regulatory Impact Assessment -- "Lawyers' Law" and Law Reform -- Judicial Reasoning and Decision-making -- Envoi -- Index.

This book aims to provide an overview of how economic analysis enriches understanding of law and provides standards for its critical evaluation.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.