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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 |
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