This book is the first systematic account of the law and economics of the family. It explores the implications of economics for family law--divorce, adoption, breach of promise, surrogacy, prenuptial agreements, custody arrangements--and its limitations.

Before a family forms, prospective partners engage in a kind of market activity that involves searching and bargaining, for which the economic analysis of contract law provides useful insights. Once a couple marries, the individuals become a family and their decisions have important consequences for other parties, especially...