Economic Analysis of LawThis text for students of law and economics concentrates on the progress of scholarship in the field. Concrete applications are emphasized over abstract theory in the book. |
From inside the book
Results 1-3 of 86
Page 92
... example , the insurance company might insure 1,000 buildings , each with a 1 percent probability of experiencing a $ 10,000 fire loss.1 If these probabilities are independent ( can you guess the meaning and significance of this ...
... example , the insurance company might insure 1,000 buildings , each with a 1 percent probability of experiencing a $ 10,000 fire loss.1 If these probabilities are independent ( can you guess the meaning and significance of this ...
Page 107
... example , if I receive my expected profit from dealing with the original supplier , I become indifferent to whether he completes his performance . In these examples the breach was in a sense involuntary . It was com- mitted only to ...
... example , if I receive my expected profit from dealing with the original supplier , I become indifferent to whether he completes his performance . In these examples the breach was in a sense involuntary . It was com- mitted only to ...
Page 240
... example ( 5 ) is not a common law example . The legal source of the policy against private racial discrimi- nation , a policy founded on distributive rather than efficiency notions ( see Chapter 27 ) , is in the Constitution rather than ...
... example ( 5 ) is not a common law example . The legal source of the policy against private racial discrimi- nation , a policy founded on distributive rather than efficiency notions ( see Chapter 27 ) , is in the Constitution rather than ...
Contents
THE NATURE OF ECONOMIC REASONING | 3 |
THE ECONOMIC APPROACH TO LAW | 19 |
PROPERTY | 29 |
Copyright | |
42 other sections not shown
Other editions - View all
Common terms and phrases
accident costs activity agency antitrust average benefits bilateral monopoly breach buyer capital cartel Chapter Coase Theorem common law compensation competition consumers contract corporation costly courts crime criminal damages defendant demand deterrence discussed doctrine earnings economic analysis economist effect efficient elasticity employer enforcement example expected federal firm firm's higher impose incentive income increase infra injurer interest investment labor land Law & Econ less litigation loss lower marginal cost monopolist monopoly price monopoly profits monopsony natural monopoly negligence opportunity cost optimal output owner parents parties percent plaintiff pollution Posner predatory pricing prevent price discrimination probability problem profits property rights punishment purchase railroad reason reduce regulation require result revenue risk risk averse rule sell seller shareholders social costs strict liability substitute Suppose supra theory tion tort transaction costs union utility victim wage wealth widgets workers