The Economic Analysis of Law

[Revised entry by Lewis Kornhauser on July 17, 2017. Changes to: Main text, Bibliography, notes.html] Economic analysis of law applies the tools of microeconomic theory to the analysis of legal
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[Revised entry by Lewis Kornhauser on July 17, 2017. Changes to: Main text, Bibliography, notes.html] Economic analysis of law applies the tools of microeconomic theory to the analysis of legal rules and institutions. Ronald Coase [1960] and Guido Calabresi [1961] are generally identified as the seminal articles but Commons [1924] and Hale [1952] among others had brought economic thinking to the study of law in the 1910s and 1920s. Richard Posner [1973] brought economic analysis of law to the...

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News source: Stanford Encyclopedia of Philosophy

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