Issn 1045-6333 Economic Analysis of Law
نویسنده
چکیده
Economic analysis of law is concerned with (a) determination of the effects of legal rules and (b) evaluation of the desirability of the effects of legal rules with respect to well-specified definitions of social welfare. This entry surveys the approach as it applies to basic areas of law -accident, property, contract, and criminal law -as well as to the litigation process. The economic approach is also contrasted with traditional analysis of law, under which the effects of legal rules are not usually systematically assessed. *Professor of Law and Economics, Harvard Law School.
منابع مشابه
Issn 1045-6333 Cigarette Smokers as Job Risk Takers
Using a large data set, the authors find that smokers select riskier jobs, but receive less hazard pay than do nonsmokers. Based on estimates using the BLS rate of lost workdays, nonsmokers have an implicit value per injury of $39,017 as compared to $20,469 for smokers. Smokers are injured more often controlling for the job’s objective risk and are paid less after such injuries. This evidence i...
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We analyze corruption in law enforcement: the payment of bribes to enforcement agents, threats to frame innocent individuals in order to extort money from them, and the actual framing of innocent individuals. Bribery, extortion, and framing reduce deterrence and are thus worth discouraging. Optimal penalties for bribery and framing are maximal, but, surprisingly, extortion should not be sanctio...
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Alan Auerbach and Kevin Hassett offer a new measure of horizontal equity (HE) that is designed to overcome deficiencies in prior indexes. There is, however, a fundamental problem that their effort shares with their predecessors attempts: the underlying rationale for pursuing HE at the expense of individuals well-being is never stated. Moreover, as discussed here, it appears that no plausible ra...
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