Economic Foundations of Law and Organization
- Author: Donald Wittman, University of California, Santa Cruz
- Date Published: June 2006
- availability: Available
- format: Paperback
- isbn: 9780521685245
Paperback
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This book serves as a compact introduction to the economic analysis of law and organization. At the same time it covers a broad spectrum of issues. It is aimed at undergraduate economics students who are interested in law and organization, law students who want to know the economic basis for the law, and students in business and public policy schools who want to understand the economic approach to law and organization. The book covers such diverse topics as bankruptcy rules, corporate law, sports rules, the organization of Congress, federalism, intellectual property, crime, accident law, and insurance. Unlike other texts on the economic analysis of law, this text is not organized by legal categories but by economic theory. The purpose of the book is to develop economic intuition and theory to a sufficient degree so that one can apply the ideas to a variety of areas in law and organization.
Read more- Most student-friendly, accessible, model-driven text on law, economics, and business in the market
- Has 74 boxed examples, review questions, clear organization, suggested readings
- Author has been refining text in classroom for over 20 years
Reviews & endorsements
'This text is interesting and valuable, and has many useful things to say about both law and organization from a solid economic perspective. The author is a well-spring of theoretical knowledge, legal cases, examples, and stories, and this serves his teaching purposes well. An excellent textbook.' Professor Avner Ben-Ner, Carlson School of Management, University of Florida
See more reviews'This is a fascinating textbook. The writing is simple and down to earth, the ideas often complex and worth thinking about - a terrific combination in any book. It takes a fresh and easily readable approach to some familiar topics in law and economics. It should find a wide audience.' Professor Keith Hylton, Boston University Law School
'I think that everyone teaching law and economics will want to buy a copy of this book. The 'bite-sized' chapters are easy to digest and well-directed. Professor Wittman has given us a concise discussion of a wide range of topics. I can guarantee that it will join David Friedman's book as the subject's most popular crib sheets.' Professor Stephen Medema, University of Colorado, Denver
'Donald Wittman has produced a well-written book, which does what often seems impossible, in that it explains economic terms in a thoroughly straightforward manner. … this is a book that will prove useful to those who want to acquire some very basic economic language in a clear format. For this alone it would be a useful product.' Industrial Relations Journal
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×Product details
- Date Published: June 2006
- format: Paperback
- isbn: 9780521685245
- length: 402 pages
- dimensions: 254 x 178 x 21 mm
- weight: 0.72kg
- contains: 2 tables 74 exercises
- availability: Available
Table of Contents
1. Introduction
Part I. Economic Fundamentals - Rationality and Efficiency:
2. Rational behavior, preferences and prices
3. Pareto optimally versus utilitarianism
4. Cost-benefit analysis
Part II. Transaction Costs and the Coasean Revolution:
5. Transaction costs
6. Fencing in and fencing out
7. Coase versus Pigou
Part III. Cost-Benefit Analysis and the Law:
8. How to think like an economist: two hawks and a fence
9. Smoking regulations: market solutions
10. Rules of thumb: sports and driving rules
Part IV. Rights:
11. The protection of entitlements
12. Property rights or communal rights in knowledge?
13. Liability for harm or restitution for benefit
14. Takings: should there be compensation for regulation
Part V. Torts and Crimes: Liability Rules and Punishments:
15. Cost minimization and the role of liability rules
16. Negligence rules
17. Crime and criminal law
Part VI. The Role of Sequence:
18. Mitigation of damages and last clear chance
19. The Good Samaritan rule
20. The role of being first in allocating entitlements
Part VII. Contracts and Breach of Contract:
21. Default rules and breach of contract
22. When is a handshake a contract and when is a contract not a contract
23. Marriage as contract: family law
Part VIII. Harms Arising Between Contracting Parties:
24. Exploding coke bottles
25. The role of asymmetric information
26. Consumers and producers cause damage: lawnmowers
Part IX. Insurance and the Law:
27. The market for insurance
28. Royalties for artists and insurance for investors
29. Regulating automobile insurance
30. Bankruptcy
31. Deposit insurance and banking crises
Part X. Governance and Organization:
32. The governance of organization
33. Corporate law and agency problems
34. Insider trading
35. Organizational response to opportunism
36. The organization of legislatures
37. Federalism
38. The internal organization of the family
Part XI. Bargaining in the Shadow of a Trial:
39. Settlement of cases
Table of cases.Instructors have used or reviewed this title for the following courses
- Economics of the Common Law
- Gov Regulation of Business
- Mass Media Management
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