Principles and Methods of Law and Economics: Enhancing Normative Analysis

Principles and Methods of Law and Economics: Enhancing Normative Analysis
Nicholas L. Georgakopoulos | 2005-10-10 00:00:00 | Cambridge University Press | 392 | Economics
This introductory book targets the reader who has the ambition to apply economic analysis but may be missing a technical introduction to its mathematical techniques or seeks a structured elaboration of its philosophical principles. The text juxtaposes economic analysis with moral philosophy, political theory, egalitarianism, and other methodological principles and then progresses to the details of methods such as model-building, derivatives, differential equations, statistical tests, and the use of computer programs.
Reviews
Georgakopoulos's «Principles and Methods of Law and Economics» is very readable introduction to the given subject. Starting with normative reasoning, social welfare and Coase theorem, Georgakopoulos provides an introduction to the mathematical techniques of economic analysis (it is necessary to remember that mathematical modeling is the leading tool of law and economics). But it should not frighten lawyers. The mathematical toolkit is described clearly enough for not well-informed readers. Guides to related reading provided in each chapter encourage further reading and study.

I recommend this book to present and future lawyers (students and working lawyers), which have only base knowledge of economics and its methods. Really, it is a useful reading for beginners. Nicholas Georgakopoulos has thought incisively about how to introduce law and economics to this category of readers. However, familiarity with leading classical authors of law and economics (Gary S. Becker, Richard A. Posner, Ronald Coase, Steven Shavell) is likely a prerequisite to deep understanding and appreciating this text. If you are interested in law and economics, then this book should be on your list.


Reviews
Outstanding work by a prominent commentator in the law and economics. Georgakopoulos is one of the real leaders in this area, and I've used his work in a number of my own studies and research. I strongly recommend this book for any students of government, law, economics (especially social or welfare economics), and related areas. This puts a whole new spin on the discipline.

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