Law and economics
"In the Fifth Edition of this best-selling text, Cooter and Ulen provide a clear introduction to economic concepts as they apply to five core areas of law: property, contracts, torts, the legal process, and crime. The authors offer new insights into the relationship between law and economics and demonstrate how microeconomic theory can be used to critically evaluate public policy."--BOOK JACKET.
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An Introduction to Law
The Methodologies of Economics and of the Law
A Review of Microeconomics
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action addicts adverse possession allocation amount award bargain theory behavior benefits breach buyer cause chapter Coase Theorem common law comparative negligence compensation compensatory damages competitive consumer contract law court crime criminal decisionmaker defendant demand curve deterrence discussion dispute economic analysis economic theory economists efficient enforce equal example exchange expected damages expected monetary value external external costs fact Figure firm function harm heroin imposed incentives income increase indifference curve inefficient injurer legal standard level of precaution litigation losses manufacturer marginal cost microeconomic negligence rule no-fault nomic optimal output owner ownership parties perfect competition performance person plaintiff potential probability problem products liability profits promise promisor property rights punishment punitive damages purchase question rational reason reliance remedy requires restriction result risk seller social costs statute strict liability Suppose surplus tion tort law tort liability trial utility victim warranty