Thursday, September 30, 2010

Principles of Law and Economics

I am pleased to announce the Peter Grossman and I have completed revisions for the 2d Edition of Principles of Law Economics, which will be published Kluwer/Aspen in 2011, hopefully in time for the fall semester. The book is aimed primarily at undergraduates and law students without a strong background in economics (i.e., students who have not taken Intermediate Micro). However, the book's strong conceptual foundation, as well as its "new institutional" approach, should also make it a useful reference tool for grad students,  law professors, and even economists who never received a proper introduction to the seminal ideas of Ronald Coase, who is to the subfield of law and economics as Adam Smith is to all of economics.

Among the most significant of the revisions for the second edition are a new introduction to game theory in Chapter 1, new case excerpts sprinkled throughout  various chapters, and the incorporation of new empirical studies into the chapters on Tort Reform and Crime and Punishment. The main structure of the book remains intact. Here is the Table of Contents:

1. Economics Concepts and Institutions
2. An Introduction to the American Legal System
3. Putting Law and Economics Together: Frameworks, History, and Perspectives
4. "The Problem of Social Cost" and Modern Law and Economics
5. Property I: Acquisition
6. Property II: Protection
7. Property III: Limits
8. Contracts I: Formation and Enforcement
9. Contracts II: Remedies
10. Torts I: Negligence
11. Torts II: Strict Liability
12. Torts III: Reform
13. Crime and Punishment
14. Antitrust and Regulated Industries
15. Environmental Protection

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