Law and Economics

by Cooter, Robert; Ulen, Thomas

• ISBN13: 9780321064820
• ISBN10: 0321064828
• Edition: 3rd
• Format: Hardcover
• Copyright: 1999-08-01
• Publisher: Addison-Wesley

Summary

"In the Fifth Edition of this best-selling text, Cooter and Ulen provide a clear introduction to economic concepts as they apply to five core areas of law: property, contracts, torts, the legal process, and crime. The authors offer new insights into the relationship between law and economics and demonstrate how microeconomic theory can be used to critically evaluate public policy."--BOOK JACKET.

Table of Contents

Preface	ix
An Introduction to Law and Economics	1	(8)
What Is the Economic Analysis of Law?	3	(1)
Some Examples	4	(3)
Why Should Lawyers Study Economics? Why Should Economists Study Law?	7	(1)
The Plan of this Book	7	(2)
A Review of Microeconomic Theory	9	(62)
Overview: The Structure of Microeconomic Theory	9	(1)
Some Fundamental Concepts: Maximization, Equilibrium, and Efficiency	10	(2)
Mathematical Tools	12	(4)
The Theory of Consumer Choice and Demand	16	(10)
The Theory of Supply	26	(3)
Market Equilibrium	29	(5)
Game Theory	34	(5)
The Theory of Asset Pricing	39	(1)
General Equilibrium and Welfare Economics	39	(5)
Decision-Making under Uncertainty: Risk and Insurance	44	(14)
An Introduction to Law and Legal Institutions
The Civil Law and the Common Law Traditions	58	(3)
The Institutions of the Federal and the State Court Systems of the United States	61	(3)
The Nature of a Legal Dispute	64	(2)
How Legal Rules Evolve	66	(5)
An Economic Theory of Property	71	(48)
The Legal Concept of Property	74	(1)
Bargaining Theory	75	(2)
The Origins of the Institution of Property: A Thought Experiment	77	(4)
An Economic Theory of Property	81	(17)
How Are Property Rights Protected?	98	(8)
What Can Be Privately Owned?	106	(3)
What May Owners Do with Their Property?	109	(1)
On Distribution	110	(9)
Appendix: The Philosophical Concept of Property	114	(5)
Topics in the Economics of Property Law	119	(58)
What Resources Should be Protected by Property Rights?	120	(19)
How are Property Rights Established and Verified?	139	(5)
Legal Restraints on Property Rights	144	(6)
Conflicting Property Rights: The Problem of Separability	150	(9)
Public and Private Property	159	(3)
The Public Use of Private Property: Takings and Regulation	162	(15)
An Economic Theory of Contract	177	(48)
Bargain Theory: An Introduction to Contracts	178	(6)
An Economic Theory of Contract	184	(41)
Topics in the Economics of Contract Law	225	(62)
Remedies as Incentives	225	(34)
Formation Defenses and Performance Excuses	259	(28)
An Economic Theory of Tort Law	287	(42)
Defining Tort Law	289	(11)
An Economic Theory of Tort Liability	300	(29)
Appendix: Liability and Symmetry	327	(2)
Topics in the Economics of Tort Liability	329	(44)
Extending the Economic Model	329	(16)
Computing Damages	345	(10)
Applying the Economic Theory of Tort Liability: Tort Law Reform	355	(18)
An Economic Theory of the Legal Process	373	(54)
Why Sue?	377	(13)
Exchange of Information	390	(8)
Settlement Bargaining	398	(7)
Trial	405	(12)
Appeals	417	(10)
An Economic Theory of Crime and Punishment	427	(28)
The Traditional Theory of Criminal Law	428	(4)
An Economic Theory of Crime and Punishment	432	(23)
Topics in the Economics of Crime and Punishment	455	(34)
Crime in the United States	455	(5)
Does Punishment Deter Crime?	460	(6)
Efficient Punishment	466	(7)
The Death Penalty	473	(6)
The Economics of Addictive Drugs and Crime	479	(5)
The Economics of Handgun Control	484	(5)
Suggested Answers	489	(34)
Case Index	523	(2)
Name Index	525	(4)
Subject Index	529