1st Edition

Fundamental Principles of Law and Economics

ISBN 9781138806023
Published November 12, 2014 by Routledge
436 Pages

USD $84.95

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Book Description

This textbook places the relationship between law and economics in its international context, explaining the fundamentals of this increasingly important area of teaching and research in an accessible and straightforward manner. In presenting the subject, Alan Devlin draws on the neoclassical tradition of economic analysis of law while also showcasing cutting- edge developments, such as the rise of behavioural economic theories of law.

Key features of this innovative book include:

  • case law, directives, regulations, and statistics from EU, UK, and US jurisdictions are presented clearly and contextualised for law students, showing how law and economics theory can be understood in practice;
  • succinct end- of-chapter summaries highlight the essential points in each chapter to focus student learning;
  • further reading is provided at the end of each chapter to guide independent research.

Making use of tables and diagrams throughout to facilitate understanding, this text provides a comprehensive overview of law-and-economics that is ideal for those new to the subject and for use as a course text for law-and-economics modules.

Table of Contents

Introduction; Part I: Economic Theory, Law, and Morality, Chapter One: Background Principles in Microeconomics, Chapter Two: Essential Concepts in the Law-and-Economics Literature, Chapter Three: Utilitarianism, Neoclassical Welfare Economics, and the Ethics of Markets; Part II: The Law of Tort, Chapter One: The Economics of Liability Rules and Accidents, Chapter Two: An Economic Account of Tort Doctrine; Part III: Criminal Law, Chapter One: An Economic Account of Criminal Behaviour, Chapter Two: Optimal Criminal Sanctions, Chapter Three: Problems in Criminal Law; Part IV: Property , Chapter One: The Economic Role of Property Rights, Chapter Two: Protecting Entitlements; Part V: The Law of Contract, Chapter One: An Economic Theory of Contract Law, Chapter Two: The Economics of Contractual Remedies; Part VI: Litigation, Chapter One An Economic Theory of Litigation; Part VII: Innovation Policy, Chapter One: Innovation Policy, Chapter Two: The Patent System, Chapter Three: Copyright Law; Part VIII: Competition Law and Natural-Monopoly Regulation, Chapter One: Antitrust and The Regulation of Business Strategy, Chapter Two: Antitrust Limits on Contract, Chapter Three: Monopolisation, Chapter Four: The Regulation of Natural Monopoly; Part IX: Behavioural Law & Economics , Chapter One Behavioural Law & Economics; Conclusion

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Alan Devlin is an antitrust lawyer with the San Francisco office of Latham & Watkins LLP, and has taught courses on law and economics, antitrust, and intellectual property as an adjunct member of the law faculties of the University of Chicago, DePaul University, Trinity College Dublin, University College Dublin, and most recently UC Hastings College of Law.


‘This is one of the most accessible introductions to Law & Economics with a wide coverage  of topics and approaches. It is one of the very few books on Law & Economics that are written from a genuinely transatlantic perspective.’

  • Florian Wagner-von Papp, University College London, UK


‘This is the best book available for introducing UK-based students to the subject- it is easy to understand without an economics background, uses UK and EU cases, and addresses criticisms of the economic approach without compromising on the need to make sure students can understand and apply the insights of economics to legal issues.’

  • William O’Brian, Warwick School of Law, UK