This is the first original, book-length examination of the methodology and philosophy of law and economics.
Part I. The Role and Use of Economics in Legal Studies: 1. Modeling courts Lewis A. Kornhauser; 2. Is there a method to the madness? Why creative and counterintuitive solutions are counterproductive Michael B. Dorff and Kimberly Kessler Ferzan; 3. Functional law and economics Jonathan Klick and Francesco Parisi; 4. Legal fictionalism and the economics of normativity Horacio Spector; Part II. Efficiency: 5. Efficiency, practices, and the moral point of view: limits of economic interpretations of law Mark Tunick; 6. Numeraire illusion: the final demise of the Kaldor-Hicks principle David Ellerman; 7. Justice, mercy and efficiency Sarah Holtman; Part III. Rationality and the Law: 8. Bounded rationality and legal scholarship Matthew D. Adler; 9. Emotional reactions to law and economics, market metaphors, and rationality rhetoric Peter H. Huang; 10. Pluralism, intransitivity, incoherence William A. Edmundson; Part IV. Values and Ethics in Civil and Criminal Law: 11. Law and economics and explanation in contract law Brian H. Bix; 12. Welfare, autonomy, and contractual freedom Guido Pincione; 13. Efficiency, fairness, and the economic analysis of tort law Mark A. Geistfeld; 14. Retributivism in a world of scarcity Mark D. White.