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Book Categories |
| 1 | Methodology of the Economic Approach | 3 |
| The Economic Approach to Human Behavior | 6 | |
| Efficiency, Utility, and Wealth Maximization | 11 | |
| Economic Reasoning and the Ethics of Policy | 18 | |
| The Distinction between Positive and Normative Economics | 25 | |
| The Methodology of Positive Economics | 28 | |
| 2 | Two Competing Economic Models of Law | 39 |
| Some Thoughts on Risk Distribution and the Law of Torts | 42 | |
| Unity in Tort, Contract, and Property: The Model of Precaution | 51 | |
| The Nature of the Firm | 60 | |
| The Problem of Social Cost | 63 | |
| When Does the Rule of Liability Matter? | 73 | |
| 3 | A Survey of Basic Applications | 83 |
| Toward a Theory of Property Rights | 86 | |
| Property Rules, Liability Rules, and inalienability: One View of the Cathedral | 94 | |
| The Learned Hand Formula for Determining Liability | 105 | |
| Strict Liability versus Negligence | 109 | |
| The Efficiency of Specific Performance: Toward a Unified Theory of Contract Remedies | 116 | |
| Crime and Punishment: An Economic Approach | 125 | |
| An Economic Approach to Legal Procedure and Judicial Administration | 133 | |
| Detrebling versus Decoupling Antitrust Damages: Lessons from the Theory of Enforcement | 139 | |
| 4 | Refining the Model I: Strategic Behavior | 147 |
| The Cost of Coase | 150 | |
| Bargaining in the Shadow of the Law: A Testable Model of Strategic Behavior | 154 | |
| Injury, Ignorance, and Spite: The Dynamics of Coercive Collection | 159 | |
| A Model in Which Suits Are Brought for Their Nuisance Value | 168 | |
| The Strategic Structure of Offer and Acceptance | 171 | |
| An Economist's Perspective on the Theory of the Firm | 178 | |
| 5 | Refining the Model II: Risk and Insurance | 187 |
| The Allocation of Risk and the Theory of Insurance | 189 | |
| The First-Party Insurance Externality: An Economic Justification for Enterprise Liability | 195 | |
| Impossibility and Related Doctrines in Contract Law: An Economic Analysis | 204 | |
| An Economic Analysis of Legal Transitions | 212 | |
| The Optimal Tradeoff between the Probability and Magnitude of Fines | 222 | |
| 6 | Refining the Model III: Information | 231 |
| The Economics of Information | 234 | |
| The Market for Lemons: Qualitative Uncertainty and the Market Mechanism | 239 | |
| The Contract-Tort Boundary and the Economics of Insurance | 245 | |
| The Informational Role of Warranties and Private Disclosure about Product Quality | 250 | |
| The Value of Accuracy in Adjudication | 255 | |
| 7 | Refining the Model IV: Bounded Rationality | 267 |
| Rationality in Psychology and Economics | 270 | |
| The Framing of Decisions and the Psychology of Choice | 274 | |
| Imperfect Information in Markets for Contract Terms | 284 | |
| The Fresh-Start Policy in Bankruptcy Law | 291 | |
| Some Implications of Cognitive Psychology for Risk Regulation | 299 | |
| 8 | Critiques of the Economic Approach | 311 |
| Is Wealth a Value? | 314 | |
| Distributive and Paternalist Motives in Contract and Tort Law | 319 | |
| Legal Economists and Normative Social Theory | 326 | |
| Of Coase and Cattle: Dispute Resolution among Neighbors in Shasta County | 333 | |
| Ethical Theory and the Case for Concern about Charges | 344 | |
| Economic Analysis of Law: Some Realism about Nominalism | 353 | |
| 9 | An Application on the Frontier: Family Law | 371 |
| The Family and the State | 373 | |
| The Economics of the Baby Shortage | 380 | |
| The Role of Private Ordering in Family Law: A Law and Economics Perspective | 390 |
| Price | Condition | Delivery | Seller | Action |
| $99.99 | Digital |
| WonderClub |
Kamsiah Yaakub
reviewed Foundations of the Economic Approach to Law on May 24, 2019
Foundations of the Economic Approach to Law
This was a lecture that Russell wrote during the first world war, and thus, contained vital tokens of his political thought along with romantic language he used to encourage. I chose to read this because I am endlessly interested in Russell's critique of BOTH ideologies of conservatism and socialism. In these pages, one can find Russell's explicit denunciation of capitalism and the wage system (as he calls for it to be abolished) as well as his complete disregard for any form social organization resembling anarchy. He makes sweeping phycological observations about human nature (narrowing our desires down as humans to either Possessive vs. Creative) as well as unsubstantiated sociological observations about human interactions. Russell also does not find time to punctuate which institutions he feels are necessary or which aren't which could contribute effectively to his argument. As a statist and a liberal, Russell does little to add to contemporary thought regarding social democracy or welfare state promotion and instead perpetuates thinking along the lines of John Locke and Wilhelm Von Humboldt. The only difference, and its the reason why I love to read anything Russell wrote, is that he uses such beautiful, hopeful language for his visions of a future society. In short but poignant sections, he always finds conclusive sentences to mark this eloquent departure:
"There can be no final goal for human institutions; the best are those that most encourage progress toward others still better. Without effort and change, human life cannot remain good. It is not a finished Utopia that we ought to desire, but a world where imagination and hope are alive and active" (17).
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