Law can be viewed as a body of rules and legal sanctions that
channel behavior in socially desirable directions for example, by
encouraging individuals to take proper precautions to prevent
accidents or by discouraging competitors from colluding to raise
prices. The incentives created by the legal system are thus a
natural subject of study by economists. Moreover, given the
importance of law to the welfare of societies, the economic
analysis of law merits prominent treatment as a subdiscipline of
economics. Our hope is that this two volume Handbook will foster
the study of the legal system by economists.
*The two volumes form a comprehensive and accessible survey of the
current state of the field.
*Chapters prepared by leading specialists of the area.
*Summarizes received results as well as new developments.
General
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