Search icone
Search and publish your papers

Integrating law and economics

Or download with : a doc exchange

About the author

 
Level
General public
Study
economics
School/University
University...

About the document

Published date
Language
documents in English
Format
Word
Type
case study
Pages
11 pages
Level
General public
Accessed
0 times
Validated by
Committee Oboolo.com
0 Comment
Rate this document
  1. Introduction
  2. The book Law in a Market Context and the meanings and values created and promoted in law
    1. An in depth look at how to understand economic concepts
    2. The means in which the society experiences the affiliation involving law
    3. A framework for understanding the interpretive process
  3. The difference between comprehending law in a market context and the performing an economic analysis
    1. Peirce's approach
    2. Malloy's approach
    3. An example of framing and referencing
  4. This baseline for mapping frames
  5. Deciding the owner's duty
  6. The cost and benefit analysis tool
  7. Laying a foundation for law and market economy
  8. Conclusion

The subjects of both law and economics are two very dissimilar things, however, when used together, can be quite effective. The integration of the two also would be beneficial in meeting certain political, social, and cultural objectives. Combining both law and economics would be an essential component of a democratic set-up and would facilitate legislators to implement their strategies on basic healthcare, education and gender justice. Richard Posner, author of Economic Analysis of Law, was the first to argue that the common law demonstrates an economic logic that is largely a result of the effort of judges to promote efficiency. His rationale behind this was that judges ?cannot do much to alter the slices of the pie that various groups in society receive, they might as well concentrate on increasing its size (252)?.

[...] In some situations, the law will focus on legal responsibility in an extensive and more widespread foundation. Strict liability may be enforced when one particular party has greater information regarding the case, or for some reason is able to manipulate certain components of the suit. In these circumstances, one party is better arranged to insure against the possibility of loss or to distribute the cost of a loss over multiple transactions. The process of strict liability within cost benefit analysis is illustrated; In such situations a known potential risk, as a by product or externality of a useful undertaking, maybe be assigned to the least cost avoider ( the party best able to cover or control the risk). [...]


[...] Thus, it contributes to an impressive expansion of law and market thinking brought on by a variety of approaches that might collectively be called the law and economics.? Examples of approaches include ventures into behavioral law and economics (referencing work in behavioral psychology and sociology), the law and economics of norms (referencing theories or norm building and of informal relationships and organizations), institutional law and economics (referencing institutional economics rather than the more traditional appeal to neoclassical economics), feminist law and economics (referencing feminist theory), and interpretive and representational law and economics (referencing the humanities, various forms of interpretation and rhetoric theory, and law and society) The book features an in-depth look at how to understand economic concepts within legal reasoning from several perspectives, including that of Law and Society, Law in general, culturally, as well as the Humanities. [...]


[...] In this framing of the transaction the exchange is shifted out of real property law and into the law governing corporate stock transfers All of the transactional frames are frequently carried out, as they all demonstrate many different and unique means of dealing with the problem at hand. Each transaction framing alternative exercises different characteristics of law, as well as cash flow and even tax and other economic outcomes. Another example of framing and referencing would be when a transaction is within a cross cultural environment. [...]

Similar documents you may be interested in reading.

The creation of the faculty of economics and business at the University of Sydney at the turn of...

 Social studies   |  Educational studies   |  Presentation   |  01/16/2009   |   .doc   |   7 pages

The creation of the Faculty of Economics and Business at the University of Sydney at the turn of...

 History & geography   |  Modern history   |  Presentation   |  09/29/2010   |   .doc   |   5 pages

Top sold for economics

International financial management: Impact of International criminality

 Economics & finance   |  Economics   |  Presentation   |  11/18/2010   |   .doc   |   5 pages

Electronic Commerce and the Purchase Behavior of a French Consumer

 Economics & finance   |  Economics   |  Thesis   |  01/10/2011   |   .doc   |   99 pages