Economic Foundations of Law (2nd ed.) provides an economic
analysis of the major areas of the law: property law, torts,
contracts, criminal law, civil procedure, corporation law and
financial markets, taxation and labor law. In line with current
trends in legal scholarship, discussion is focused on economic
principles such as risk aversion, efficiency, opportunity cost,
moral hazard, rent-seeking behaviour and economies of scale.
Accessible, comprehensive and well written, this book uses
extensive practical examples and explanations to illustrate key
points. There are numerous applications to lawyers and the legal
profession, with detailed discussions of subjects as diverse as the
proposed market for transplantable human organs, the market for
adoptions, the market for bail bonds, the unanticipated effects of
Megana (TM)s law, and issues of racial profiling. Fully updated and
revised, a new chapter on labor law has also been included.
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