Uploaded by station Internet Archive's 25th Anniversary Logo. Search icon An illustration of a magnifying glass. User icon An illustration of a person's head and chest.
Sign up Log in. Web icon An illustration of a computer application window Wayback Machine Texts icon An illustration of an open book. Books Video icon An illustration of two cells of a film strip. Title Law and Economics, 6th edition. Meeting Name Online version 6. Print edition published Date Economics ; Law. Content Type Book. Furthermore, in obvious contrast to Miceli, he does not invoke significantly mathematics even of an elementary type.
But that mathematics is obviously lurking just beneath the surface area from the words, and I caution the reader that book are going to be considerably less complicated to study if you have received some math qualifications. Citation s : A. From my opinion the law and economics methodology is one of the best methodologies although there are few gaps but it is more realistic and by exploring various responses to the criticisms of this methodology we will notice that the overall of such criticisms, according to the responds thereof are very marginal or even does not exist Finally, it will present the criticisms of that methodology and the counter responses to such criticisms.
The Law and economics methodology started in the United States in the late 50 th1, and it is noticed that one of the first law journals in this area was "The Journal of Law and Economics" published by the university of Chicago that was issued for the first time in It is worth to mention that the Chicago approach to law and economics during the s and s was the most important approach or "reigned supreme".
However, the acceptance of that methodology and widespread started in the 70s in the legal community3. This approach started in Europe in the nineteenth century as a way to have a better understanding of law by using the economic methods and concepts 4. Coase v Richard Posner especially in the" Journal of Institutional and Theoretical Economics", as well as other publications starting from , especially Posner's criticisms to the school 1 MacKaay, E.
However that debate will not be part of this document. It can be summarized as "the application of economic theory and econometric methods to examine the formation, structure, processes and impact of law and legal institutions the economic analysis of law"7.
In this situation, the legal rule will have an economic implication on the landlord. Accordingly, he is supposed to take into consideration such rule and calculate its effect and how should that be reflected on the rental pricing The law and economics methodology works on two levels the first level is the human choice while in the second level is the goal which is based on the legal rule which is determined as the tool to deal with market failure The scholars divided the law and 5 Cameron, A.
The positive economics is considered the major field of economics which works collectively with mathematical models as well as the empirical tools to reach an explanation of the relations of certain existing issues as well as predicting future changes in one or more of such variable issues
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