of law is modeled predominantly by the economic efficiency concept. Considering the early stages of the concept …

The bargain theory of exchange, which led to regulations of transactions before the existence of contract law, suffered … loss led to economic efficiency in transactions …

been intrigued by the possibility that legal processes operate to promote economic efficiency. This essay probes the … problematical character of the efficiency claim. This appraisal operates by refracting the efficiency claim through Vilfredo Pareto … efficiency is an objectively meaningful concept only inside a model of competitive equilibrium. Outside that model, economic …

This essay reviews the origins and development of the debate over the “efficiency of the common law hypothesis.” The … then examines the Rubin-Priest and contemporary models of demand-side models of common law efficiency and critiques thereof …. It then turns to a supply-side analysis of the efficiency of the common law hypothesis, focusing on the nature of the …