In the US, law and economics is so well established that many law schools have given up on a separate law and economics course. It seems obvious that economic theory matters for the interpretation and the evolution of the law. More recently, the empirical law movement has been gaining momentum...

Originally, behavioral law and economics was an exercise in exploring the implications of key findings from behavioral economics (and psychology) for the analysis and reform of legal institutions. Yet as the new discipline matures, it increasingly replaces foreign evidence by fresh evidence,...

The paper reviews (in Czech) the main qualitative tools applied by (micro)economic analysis and surveys the main literature on the topic. Economics is often being criticised by its opponents for the use of unrealistic assumptions. On the contrary, my claim is that if economics has anything to...

What role does defensive conduct play in a utilitarian theory of tort law? Why are rational (as opposed to instinctive) defensive actions permitted by tort doctrine? To address these questions I will build on the property and liability rules framework. I argue that defensive conduct plays an...

This paper examines the law and economics of third-party financed litigation. I explore the conditions under which a system of third-party financiers and litigators can enhance social welfare, and the conditions under which it is likely to reduce social welfare. Among the applications I consider...

In this Article, we focus on an important problem involving mass-accident cases that was highlighted by the Deepwater Horizon litigation: overuse of courts to enforce contribution claims. These claims seek to shift incurred or expected liability and damages between the business and governmental...

Law has spent surprisingly little time developing a theory of human nature. Its efforts have largely focused on the abnormal - notably, those not responsible for their actions by reason of mental illness or diminished capacity. The normal has barely been addressed. Law and economics embeds a...

Courts apply compensatory damages, restitution, and punitive damages to formulate litigants' civil remedies. The frequently contested policy justifications for these three remedies are often hazy and uncertain. The transitions between the three remedies are disputed. Lawyers and courts often...

While law and economics has become an established mode of analysis within the United States, it is generally asserted that law and economics "barely exists" in European countries. In order to support this claim, scholars have looked to various metrics, such as hiring of economists by law...

This paper presents a largely positive analysis of products liability law, in the sense that it aims to predict the incentive effects and the welfare consequences of the law, with close regard to its specific legal tests and the real-world constraints that impinge on these tests. The other major...