Handbook of Law and Economics
- ISBN-10
- 0444512357
- ISBN-13
- 9780444512352
- Category
- Business & Economics
- Pages
- 887
- Language
- English
- Published
- 2007-11-21
- Publisher
- Elsevier
- Authors
- Steven Shavell, A. Mitchell Polinsky
Description
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.
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