Costs And Cautionary Tales: Economic Insights for the Law (Legal Theory Today)

Half Title Page......Page 1
Half Title verso......Page 2
Title Page......Page 3
Title verso......Page 4
Preface......Page 7
Contents......Page 9
Intellectual Inferiority Complex, but not in Chicago......Page 15
Six Landmark Contributions to the Economic Analysis of Law......Page 18
Mathematics, Science and Plausibility......Page 35
Efficiency and the Normative Dimension......Page 39
A Look Forward......Page 45
Introduction: Lawyers as Designers and Disputants......Page 49
Property Rights......Page 52
Business Organisational Forms......Page 61
Default Rules......Page 71
Conclusions......Page 77
Introduction: Classification is Important......Page 79
Mapping the Legal System......Page 85
Contract or Tort......Page 100
Property Rights and Tort Actions......Page 106
Private Law and Regulatory Standards......Page 108
Conclusions......Page 113
Introduction: Why Obey the Law?......Page 115
External Inducements: The Basic Ideas......Page 116
A Taxonomy of External Inducements......Page 120
Enforcement Costs......Page 122
Costs of Targeting the Sanction......Page 126
The Normative Alternative: Reference to the Harmfulness of the Activity......Page 128
Informal Costs......Page 143
Corporate Actors......Page 145
Information Costs......Page 148
Conclusions......Page 149
Introduction: Railways, Rings and Russia......Page 153
Limiting Liability: Foreseeability......Page 156
Contractual Risk Allocation: Individual Autonomy or “Fair Shares”?......Page 161
Ex Post Adjudication and Ex Ante Analysis......Page 165
Subjectivity and Risk Management......Page 168
Uncertainty of Risks and the Precautionary Principle......Page 172
Conclusion......Page 175
Introduction: The Puddle and the Sauna......Page 177
Causation and Coasean Reasoning......Page 180
Liability for Negligent Omissions......Page 182
Coming to a Nuisance......Page 187
Requirement of “Damage”......Page 192
Types of Damage......Page 196
Conclusion......Page 200
Introduction: Publishers Punished andDevelopers Disgorged......Page 203
When Should Wrongdoing be Treated asGenerating Welfare Gains?......Page 207
Classification of Legal Entitlements......Page 211
Injunctions and Interference with PropertyRights in Land......Page 215
Efficient Breaches of Contract......Page 219
Regulatory Contraventions......Page 226
Conclusions......Page 230
Introduction: Crossing the Road Safely?......Page 233
Distributive Justice......Page 234
Paternalism......Page 244
Conclusions......Page 264
Minks, Accident Compensation and Conveyancing......Page 267
Legal Formalities......Page 270
Legal Complexity......Page 275
Legal Jargon......Page 281
Remuneration and Competition Between Lawyers......Page 284
Legal Culture and Competition Between LegalSystems......Page 287
Conclusions......Page 290
Introduction......Page 293
Formal Requirements of Economic Analysis:Regulatory Impact Assessment......Page 296
“Lawyers’ Law” and Law Reform......Page 307
Judicial Reasoning and Decision-making......Page 313
Envoi......Page 325
Index......Page 327