Handbook of Law and Economics
| By: | Polinsky, A. Mitchell; Shavell, Steven |
| Publisher: | Elsevier S & T |
| Print ISBN: | 9780444512352 |
| eText ISBN: | 9780080554242 |
| Edition: | 2 |
| Format: | Page Fidelity |
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Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions — for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the legal system are thus a natural subject of study by economists. Moreover, given the importance of law to the welfare of societies, the economic analysis of law merits prominent treatment as a subdiscipline of economics. Our hope is that this two volume Handbook will foster the study of the legal system by economists.
*The two volumes form a comprehensive and accessible survey of the current state of the field.
*Chapters prepared by leading specialists of the area.
*Summarizes received results as well as new developments.