The use of economics to study law was pioneered by the Austrian School of Economics. The nineteenth century founders of the school believed that economics could contribute to understanding the spontaneous development of common law as well as the nature of legal rights. For this insightful...

Game Theory and the Law is a collection of previously published articles in which ideas from game theory and the economics of asymmetric information are applied to legal issues. Game theory’s method is to simplify a situation by describing it in terms of players, actions, payoffs, after which...

The authors detail Sir Edwin Chadwick’s sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick’s views on...

To date, the formulation of a systematic theory of the organization of markets has proved to be a difficult task and remains unfinished. Nevertheless, explanations do exist as to why, under given conditions, the basic activities of trade are organized in one particular fashion rather than...

This insightful two-volume set presents a careful selection of the most important published papers on the economics of antitrust law. The collection focuses on areas of major importance including market power, horizontal arrangements, and vertical arrangements and exclusionary behaviour. It...

This insightful and authoritative two-volume set examines the major issues and theories concerning federal political systems. The book covers the two main branches in the economics literature.

Comparative Contract Law and Economics provides a deeper understanding of the similarities and differences between the legal systems of France, England, the US and Germany in terms of contract law.

This important book addresses a number of key issues regarding the relationship between the rule of law and development. It presents a deep and insightful inquiry into the current orthodoxy that the rule of law is the panacea for the world’s problems. The authors chart the precarious progress...