Back القانون والاقتصاد Arabic Hüquq və iqtisadiyyat AZ Право и икономика Bulgarian Retsøkonomi Danish Ökonomische Analyse des Rechts German Análisis económico del Derecho Spanish حقوق و اقتصاد FA Oikeustaloustiede Finnish Analyse économique du droit French ניתוח כלכלי של המשפט HE
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Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director, George Stigler, and Ronald Coase. The field uses economics concepts to explain the effects of laws, assess which legal rules are economically efficient, and predict which legal rules will be promulgated.[1] There are two major branches of law and economics;[2] one based on the application of the methods and theories of neoclassical economics to the positive and normative analysis of the law, and a second branch which focuses on an institutional analysis of law and legal institutions, with a broader focus on economic, political, and social outcomes, and overlapping with analyses of the institutions of politics and governance.
- ^ David Friedman (1987). "law and economics," The New Palgrave: A Dictionary of Economics, v. 3, p. 144.
- ^ Ronald Coase (1996). "Law and Economics and A.W. Brian Simpson," The Journal of Legal Studies, v. 25, p. 103-104.