Law and Economics by Satish K. JainLaw and Economics by Satish K. Jain

Law and Economics

EditorSatish K. Jain

Hardcover | October 1, 2010

Pricing and Purchase Info


Earn 400 plum® points

Prices and offers may vary in store


Ships within 1-3 weeks

Ships free on orders over $25

Not available in stores


Economic analysis of law has been preoccupied by considerations of efficiency and often regards values and individual preferences to be independent of social institutions. This volume analyses the flaws in such an approach by pointing out the incommensurability of fundamental societal valuesin the context of the institutional structure. Given that individual preferences and values and social values impact each other in the context of an institutional structure, the book recognizes that a comprehensive theory of law must contend with (i) whether the institutional structure admits anequilibrium of individual and social values; and (ii) if there is an equilibrium, then what the extent of divergence is under it between the realized social values and the desired values.
Satish K. Jain is Professor of Economics, Centre for Economic Studies and Planning, School of Social Sciences at Jawaharlal Nehru University.
Title:Law and EconomicsFormat:HardcoverDimensions:416 pages, 8.46 × 5.51 × 0 inPublished:October 1, 2010Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198067739

ISBN - 13:9780198067733


Table of Contents

IntroductionSection 1:Richard A. Posner: Perspectives on Efficiency of Common LawPaul H. Rubin: Wealth Maximization RevisitedWhy is the Common Law Efficient?Section 2:John Prather Brown: Alternative Formulations of the Notion of NegligenceMark F. Grady: Toward an Economic Theory of LiabilitySatish K. Jain: A New Positive Economic Theory of NegligenceEfficiency of Liability Rules: A ReconsiderationSection 3:Harold Demsetz: Liability Rules: Efficiency and Some Strategic AspectsSatish K. Jain and Ram Singh: When Does the Rule of Liability Matter?John Prather Brown and William L. Holahan: Efficient Liability Rules: Complete CharacterizationAlfred Endres: Taxes and Legal Rules for the Control of Externalities When There Are Strategic ResponsesStrategic Behavior under Tort LawSection 4:Kaushik Basu: Law and Economics of Child LabourJane Humphris: Compacts, Conventions, and Codes: Initiatives for Higher International Labor StandardsLessons from the Historical Experience of Today's Industrial EconomiesSection 5:Steven Shavell: Law, Liability and RegulationEric A. Posner: Liability for Harm versus Regulation of SafetyStandards, Rules, and Social NormsSection 6:Cass Sunstein: Law, Governance and ValuesA. K. Sen: Conflicting Values in LawDemocracy as a Universal Value