Issues such as the patentability of scientific ideas, the market for organs and open source software are hotly debated and yet poorly understood. In particular, there is a great need for sound economic theorizing on such issues.

There is also a need for a clear and concise exposition of the state-of-the-art of the economics of property rights. This book fulfils these various needs.

This volume traces the evolution of the field of law and economics from its European roots to its neoclassical "Chicagoan" period to its current identity as a more fluid, transatlantic discipline. Paying special attention to the work of German economist Juergen Backhaus, who was instrumental in the reintroduction of the European perspective to the field, this book analyzes this gradual shift in the law and economics debate and provides a state-of-the-art of the literature currently being produced by the field's most active scholars. Beginning with a discussion of the history of the field...