(Ebook) Handbook of Law and Economics, Volume 1 (Handbook of Law and Economics) by A. Mitchell Polinsky, Steven Shavell ISBN 9780080554242, 9780444512352, 0080554245, 0444512357

(Ebook) Handbook of Law and Economics, Volume 1 (Handbook of Law and Economics) by A. Mitchell Polinsky, Steven Shavell ISBN 9780080554242, 9780444512352, 0080554245, 0444512357

Law can be viewed as a body of rules and legal sanctions that channel behavior in socially desirable directions - for example, by encouraging individuals to take proper precautions to prevent accidents or by discouraging competitors from colluding to raise prices. The incentives created by the legal system are thus a natural subject of study by economists. Moreover, given the importance of law to the welfare of societies, the economic analysis of law merits prominent treatment as a subdiscipline of economics. Our hope is that this two volume Handbook will foster the study of the legal system by economists. *The two volumes form a comprehensive and accessible survey of the current state of the field.*Chapters prepared by leading specialists of the area.*Summarizes received results as well as new developments.