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When law and economics first became an important part of the legal academy, it was a relatively straightforward application of microeconomic theory to legal issues. However, in the past 40 years the field has expanded its toolkit dramatically. This latest volume in the acclaimed Encyclopedia of Law and Economics maps the methodological territory in law and economics with a series of entries by distinguished scholars. These entries introduce and evaluate the law and economics mechanisms, including: the roles of microeconomic theory, public and social choice, history, complexity theory,...

Law and economics has become a central course in U.S. legal education and for students majoring in topics like economics, political science, and philosophy. Cooter and Ulen provide a clear introduction to economic analysis and its application to legal rules and institutions that is accessible to any student who has taken principles of microeconomics. The book's structure is flexible, beginning with an introductory overview of economic tools followed by paired chapters in five core areas of law: property, contracts, torts, legal process, and crime. Students leave the course understanding how...

This work discusses how environmental policy in a federal or confederal system may differ both in theory and practice from that found in a unitary government system. After examining the framework for environmental policy in the EU and US, the authors present papers on their federal institutions, the economic forces affecting environmental governance, the choice of policy instruments, linkages between trade and environmental policy and environmental regulations within international trade negotiations. The final part brings together a series of case studies which shed light on the research...