Category Archives: Law and Economics

Tim Dornis, ‘Wigmorian copyright: law, economics, and socio-cultural evolution’

Abstract The scope of copyright protection has been extended throughout the centuries. While it initially did not cover much more than printed books, it now comprises a large variety of different works and regulates innumerable marketplaces for creative products. At the same time, theory has made enormous leaps, from an initial understanding of copyright as […]

Oytana and Chappe, ‘Expert opinion in a tort litigation game’

Abstract We investigate the potential impact of various proposed reforms intended both to improve the quality of expert testimony, while reducing its cost and facilitating the work of courts in appointing experts and reading their reports. We present a unilateral care model under strict liability, in which the court cannot perfectly observe the amount of […]

‘Now published – The Tragedy of the Commons at 50: Context, Precedents, and Afterlife’

“Last June we held a conference at TAU Law to explore the history of commons thought: The Tragedy of the Commons at 50: Context, Precedents, and Afterlife. I’m happy to report that the papers have now been published in the latest issue of Theoretical Inquiries in Law, edited by Carol Rose and myself, available here […]

Henry Smith, ‘Complexity and the Cathedral: making law and economics more Calabresian’

Abstract This article argues that Calabresi and Melamed’s ‘Cathedral’ framework of property rules, liability rules, and inalienability rules needs to be extended using the tools of complex systems theory in order to capture important institutional features of the law. As an applied field, law and economics looks to law in choosing the appropriate analytical tools […]

Ahson Azmat, ‘Joint-Carving in Deontic Tort’

Abstract Many legal theorists refuse to reduce the rules, rights, and wrongs of tort into the policy-based prices, sanctions, and tolls of Holmesian instrumentalism. This refusal is not merely an interpretive position within tort law, or private law more generally. Properly construed, deontic views of tort amount to some form of metaethical non-naturalism. And while […]

Anne-Lise Sibony, ‘Can EU Consumer Law Benefit from Behavioural Insights? An Analysis of the Unfair Practices Directive’

Abstract European consumer law rests on a representation of consumer behaviour that is very far from reality as we perceive it but also from the teachings of behavioural sciences. This article explores in what ways behavioural insights could be used to shape the interpretation of European law on unfair practices. It is argued that insights […]

Zamir and Teichman, ‘Behavioral Law and Economics – Introduction’

Abstract In the past few decades, economic analysis of law has been challenged by a growing body of experimental and empirical studies that attest to prevalent and systematic deviations from the assumptions of economic rationality. While the findings on bounded rationality and heuristics and biases were initially perceived as antithetical to standard economic and legal-economic […]

Call for Papers: 14th Annual Conference of the Italian Association of Law and Economics, 13-15 December 2018

ISLE-SIDE invites contributions on all aspects related to Law and Economics, such as Bankruptcy, Behavioural Law and Economics, Competition Policy and Antitrust Law and Economics, Corporate Governance and Corporate Law, Criminal Law, Environmental Law and Economics, Constitutional Law and Economics, Family Law and Economics, History of Law and Economics Thought, Institutional and New-Institutional Economics, Intellectual […]

Acheson and Wohlschlegel, ‘The Economics of Weaponized Defamation Lawsuits’

Abstract Defamation law exists primarily to protect the plaintiff’s reputation. It does so by providing a remedy for reputational harm caused by the defendant’s publication of false and defamatory imputations about the plaintiff. However, although the law of defamation seeks to remedy and prevent reputational harm caused by the publication of false statements, across the […]

‘Legal Theory Lexicon: Property Rules and Liability Rules’

“One of the most famous distinctions in contemporary legal theory was made popular by Guido Calabresi and A Douglas Melamed’s famous article, Property Rules, Liability Rules, and Inalienability: One View of the Cathedral. The core idea is simple. Legal rules that create private causes of actions (or claims for relief) can be sorted into two […]