Foundations of Economic Analysis of Law
For the past 30 years, Steven Shavell has been one of the prolific and influential contributors to the economic analysis of law, the foremost intellectual movement in law in the last half century. His new book is a lucid, accessible, authoritative, critical, and comprehensive treatise on the economics of the fundamental doctrines and institutions of the law. It is at once a major contribution to scholarship, a useful reference tool, and a valuable introduction to an approach to law that no serious student of the law can any longer afford to neglect. (Richard A. Posner, Judge, U.S. Court of Appeals for the Seventh Circuit)Shavell's book provides a masterful, non-technical synthesis of the classical topics of law and economics. It is comprehensive, clear and readable. The book will be a great source both for neophytes who want to learn about this important area, and for experts who want to make sure that they are up-to-date on the latest developments. (Oliver Hart, Department of Economics, Harvard University)Law and Economics is one of the great intellectual triumphs of social science. Shavell's book offers a compelling account of the accomplishments and challenges of the field at the beginning of the 21st century. (Andrei Shleifer, Department of Economics, Harvard University)Since the 1970s, Steven Shavell has written one path-breaking article after another. Not only has he collected the insights from this large body of work under one roof here, he has added to it both by integrating it into a coherent whole, and by filling in numerous gaps in the literature. For someone interested in getting to the cutting edge of law-and-economics scholarship as quickly as possible, this book is a "must read." It clearly will become the authoritative treatise on the economic analysis of law. (A. Mitchell Polinsky, Stanford Law School)This book proposes an overview of the fields in the economics of law to which the author has contributed. It also covers in detail other fields and many contributions to the literature. The emphasis is on theory, but some empirical facts are mentioned...I very much enjoyed reading the book. It covers with great competence the relevant topics of positive and normative analyses of law. The book reflects the strong academic competence of the author. I recommend the book to academics and professionals. I also recommend its use for teaching the economics of law in law schools, economics departments, and business schools. (Dionne GeorgesJournal of Risk and Insurance2006-12-01)