Law and Economics
1st Edition
Published on 25. November 2010
Book
Hardback
416 pages
978-0-19-806773-3 (ISBN)
Description
Economic analysis of law has been preoccupied by considerations of efficiency and often regards values and individual preferences to be independent of social institutions. This volume analyses the flaws in such an approach by pointing out the incommensurability of fundamental societal values in the context of the institutional structure. Given that individual preferences and values and social values impact each other in the context of an institutional structure, the
book recognizes that a comprehensive theory of law must contend with (i) whether the institutional structure admits an equilibrium of individual and social values; and (ii) if there is an equilibrium, then what the extent of divergence is under it between the realized social values and the desired
values.
book recognizes that a comprehensive theory of law must contend with (i) whether the institutional structure admits an equilibrium of individual and social values; and (ii) if there is an equilibrium, then what the extent of divergence is under it between the realized social values and the desired
values.
More details
Language
English
Place of publication
New Delhi
India
Target group
College/higher education
Professional and scholarly
Research institutions and universities offering courses on law and economics at the master's level will find this a useful reference. A valuable resource for policymakers and professionals, students, and researchers working in the areas of jurisprudence, political science, and philosophy
Dimensions
Height: 221 mm
Width: 149 mm
Thickness: 23 mm
Weight
536 gr
ISBN-13
978-0-19-806773-3 (9780198067733)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Person
Satish K. Jain is Professor of Economics, Centre for Economic Studies and Planning, School of Social Sciences, Jawaharlal Nehru University.
Content
INTRODUCTION; ; 1. Perspectives on Efficiency of Common Law, POSNER, RICHARD A; Wealth Maximization Revisited; RUBIN, PAUL H. Why is the Common Law Efficient?; ; 2. Alternative Formulations of the Notion of Negligence, BROWN, JOHN PRATHER; Toward an Economic Theory of Liability, GRADY, MARK F; A New Positive Economic Theory of Negligence, JAIN, SATISH K; Efficiency of Liability Rules: A Reconsideration; ; 3. Liability Rules: Efficiency and Some Strategic Aspects, DEMSETZ, HAROLD; When Does the Rule of Liability Matter?, JAIN, SATISH K. and SINGH, RAM; Efficient Liability Rules: Complete Characterization, BROWN, JOHN PRATHER and HOLAHAN, WILLIAM L; Taxes and Legal Rules for the Control of Externalities When There Are Strategic Responses, ENDRES, ALFRED; Strategic Behavior under Tort Law; ; 4. Law and Economics of Child Labour, BASU, KAUSHIK; Compacts, Conventions, and Codes: Initiatives for Higher International Labor Standards, HUMPHRIS JANE; Child Labor: Lessons from the Historical Experience of Today's Industrial Economies, ; 5. Law, Liability and Regulation, SHAVELL, STEVEN; Liability for Harm versus Regulation of Safety, POSNER, ERIC A; Standards, Rules, and Social Norms; ; 6. Law, Governance and Values, SUNSTEIN CASS R; Conflicting Values in Law, SEN A.K; Democracy as a Universal Value.