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Law and Economics: Theory, Cases, and Other Materials, First Edition

  • J. Shahar Dillbary
  • William M. Landes
Series / Aspen Casebook Series
Teaching Materials
Table of contents

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Law and Economics: Theory, Cases, and Other Materialsis a comprehensive introduction to the subject area of law and economics, with stimulating in depth discussion of actual case law by two leading scholars in the field. It provides a clear description of the key points of law and economics across various substantive areas of law, combining the traditional approach to the study of law and economics with new important insights from behavioral economics and competing theories. Importantly, Law and Economics artfully introduces and connects theory to practice to provide a coherent picture rather than a patch-like studying experience. Using detailed case-notes, comments and examples, Law and Economics explains why future lawyers should care about economic analysis of the law and how economics can and should play a role in litigation and conflict resolution. This important new casebook not only makes law and economics accessible to students but also indubitably establishes the importance of law and economics in a globalized world.

Highlights of the First Edition:

  • Introduces students to basic tools (e.g., game theory and decision theory) and concepts (e.g., efficiency criteria) using simple and innovative methods
  • Facilitates the understanding of complicated concepts by providing the theoretical backgrounds as well as clear explanations, examples, exercises, and comprehensive comments and notes that do not require any background in math or economics
  • Allows readers to test their understanding by providing practice questions with full answers
  • Carefully selected cases, with discussion emphasizing the economic rationales underlying decisions and demonstrating how these rationales impact decisions
  • Marries the virtues of a textbook (explaining the theoretical underpinning of different economic notions and how they relate to different legal doctrines) to those of acasebook by tying concepts to actual decisions
  • Adopts a modern approach that covers competing theories as they relate to specific decisions and theories
  • Includes methodology chapters where the same methodology (e.g., decision making, game theory, supply and demand) is used to analyze different areas of the law, as well as subject matter chapters in which specific areas of the law (e.g., property) are analyzed using different methodologies
  • A modular structure, allowing the professor to pick and cover materials in almost any order, to skip certain materials and to focus on court decisions, the theory, or both

Professors and students will benefit from:

  • The use of alternative intuitive methods to explain theories
  • The use of simple algebra to teach the most complex subjects
  • The artful combination of theory with a practical approach that ties the economic concepts (including game theory and decision theory) to specific subject matters, legal rules and specific decisions
  • In-depth discussion of decisions and how they could they be explained or argued differently in light of the theoretical concepts reviewed
  • The use of summary boxes to recap complicated concepts
  • Fantastic notes and practical questions following cases
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About the authors
William Landes
Professor Emeritus
University of Chicago Law School

William M. Landes Clifton R. Musser Professor Emeritus of Law and Economics, Senior Lecturer William Landes joined the faculty of the University of Chicago Law School in 1974. He was the Clifton R. Musser Professor of Law and Economics in the Law School from 1992 to 2009. Landes received a BA from Columbia College in 1960, and his Ph.D. in economics from Columbia in 1966. He has written widely on the application of economics and quantitative methods to law and legal institutions including torts, intellectual property, judicial behavior, legal decision making and art law. Landes has been an editor of the Journal of Law and Economics from 1975 to 1991 and the Journal of Legal Studies from 1991 to 2000. He was president of the American Law and Economics Association in 1992-1993 and was elected a Fellow of the American Academy of Arts and Sciences in 2008. Landes also co-founded the consulting firm Lexecon (now CompassLexecon) in 1977 with Richard Posner and Andrew Rosenfield.

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First Edition
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Connected eBook + Hardcover
Connected eBook (Digital Only)
Economics and the Law
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