Economic Foundations of Law and Organization

By: Donald Wittman

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Paperback | 26 June 2006

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400 Pages

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25.4 x 17.7 x 2.1

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This book serves as a compact introduction to the economic analysis of law and organization. At the same time it covers a broad spectrum of issues. It is aimed at undergraduate economics students who are interested in law and organization, law students who want to know the economic basis for the law, and students in business and public policy schools who want to understand the economic approach to law and organization. The book covers such diverse topics as bankruptcy rules, corporate law, sports rules, the organization of Congress, federalism, intellectual property, crime, accident law, and insurance. Unlike other texts on the economic analysis of law, this text is not organized by legal categories but by economic theory. The purpose of the book is to develop economic intuition and theory to a sufficient degree so that one can apply the ideas to a variety of areas in law and organization.

Industry Reviews

'This text is interesting and valuable, and has many useful things to say about both law and organization from a solid economic perspective. The author is a well-spring of theoretical knowledge, legal cases, examples, and stories, and this serves his teaching purposes well. An excellent textbook.' Professor Avner Ben-Ner, Carlson School of Management, University of Florida 'This is a fascinating textbook. The writing is simple and down to earth, the ideas often complex and worth thinking about - a terrific combination in any book. It takes a fresh and easily readable approach to some familiar topics in law and economics. It should find a wide audience.' Professor Keith Hylton, Boston University Law School 'I think that everyone teaching law and economics will want to buy a copy of this book. The 'bite-sized' chapters are easy to digest and well-directed. Professor Wittman has given us a concise discussion of a wide range of topics. I can guarantee that it will join David Friedman's book as the subject's most popular crib sheets.' Professor Stephen Medema, University of Colorado, Denver 'Donald Wittman has produced a well-written book, which does what often seems impossible, in that it explains economic terms in a thoroughly straightforward manner. ... this is a book that will prove useful to those who want to acquire some very basic economic language in a clear format. For this alone it would be a useful product.' Industrial Relations Journal

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Non-Fiction Law Laws of Specific Jurisdictions Jurisprudence & General Issues Economics Economic Theory & Philosophy

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Hardcover

Published: 26th June 2006

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Preface	p. ix
Introduction	p. 1
Economic Fundamentals - Rationality and Efficiency
Rational Behavior, Preferences, and Prices	p. 7
Pareto Optimality Versus Utilitarianism	p. 13
Cost-Benefit Analysis	p. 21
Transaction Costs and the Coasean Revolution
Transaction Costs	p. 33
Fencing In and Fencing Out	p. 41
Coase versus Pigou	p. 49
Cost-Benefit Analysis and the Law - Developing Economic Intuition
How to Think Like an Economist: Drunk Drivers, Hawks, and Baseballs	p. 59
Smoking Regulations: Market Solutions to High-Transaction-Cost Situations	p. 69
Rules of Thumb: Sports and Driving Rules	p. 75
Rights
The Protection of Entitlements: Why One Method Is Chosen Over Another	p. 91
Property Rights or Communal Rights in Knowledge?	p. 103
Liability for Harm or Restitution for Benefit?	p. 113
The Takings Clause: Should There Be Compensation for Regulation?	p. 121
Torts and Crimes: Liability Rules and Punishments
Cost Minimization and Liability Rules	p. 131
Negligence Rules	p. 141
Crime and Criminal Law	p. 153
The Role of Sequence
Mitigation of Damages and Last Clear Chance	p. 167
The Good Samaritan Rule	p. 175
The Role of Being First in Allocating Rights: Coming to the Nuisance	p. 181
Contracts and Breach of Contract
Default Rules and Breach of Contract	p. 193
When Is a Handshake a Contract and When Is a "Contract" Not a Contract?	p. 207
Marriage as Contract: Family Law	p. 217
Harms Arising Between Contracting Parties
Exploding Coca-Cola Bottles	p. 231
The Role of Asymmetric Information	p. 239
Consumers and Producers Cause Damage: Lawnmowers	p. 247
Insurance and the Law
The Market for Insurance	p. 257
Royalties for Artists and Insurance for Investors	p. 269
Automobile Insurance	p. 277
Bankruptcy	p. 283
Deposit Insurance and Banking Crises	p. 295
Governance and Organization
The Governance of Organization	p. 305
Corporate Law and Agency Problems	p. 313
Insider Trading	p. 323
Organizational Response to Opportunism: McDonald's, the Mafia, and Mutual of Omaha	p. 331
The Organization of Legislatures	p. 341
Federalism	p. 349
The Internal Organization of the Family	p. 357
Bargaining in the Shadow of a Trial
Settlement or Trial?	p. 367
Index of Authors	p. 379
Index	p. 381
Case Index	p. 390
Table of Contents provided by Ingram. All Rights Reserved.

Economic Foundations of Law and Organization

At a Glance

Paperback

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

Other Editions and Formats

Hardcover

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