Institutional Law and Economics

Economics and the Law Pub Date : 2020-07-21 DOI:10.2307/j.ctv131bw26.7

Steven G. Medema, Nicholas J. Mercuro, W. Samuels

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引用次数: 13

Abstract

From its beginnings in the late nineteenth century, institutional economics has been concerned with the analysis of the interrelations between legal and economic processes. The institutional approach to law and economics examines both the influence of economy upon law and legal reasoning and the influence of law and legal change upon economic activity and performance. This essay examines the central tenants of institutional law and economics, dating from the early work of individuals such as Robert Lee Hale and John R. Commons and through its modern manifestations. As such, it emphasizes the evolutionary nature of law and economy, the tension between continuity and change, the problem of order, the reciprocal nature of legal-economic problems and the attendant dual nature of rights, the problematic nature of efficiency, and the need for a comparative institutional approach to the practice of law and economics. By recognizing the multiplicity of potential solutions to legal-economic problems and the underlying value premises attending each, the comparative institutional approach to law and economics attempts to flesh out both what is actually going on within the legal-economic nexus and the alternative possibilities open to society within the legal-economic decision-making process.

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制度法学与经济学

从19世纪末开始，制度经济学就一直关注对法律和经济过程之间相互关系的分析。法律和经济学的制度方法考察了经济对法律和法律推理的影响，以及法律和法律变化对经济活动和绩效的影响。本文考察了制度法学和经济学的核心租户，从罗伯特·李·黑尔和约翰·r·康姆斯等人的早期工作到其现代表现。因此，它强调了法律和经济的演化性质、连续性和变化之间的紧张关系、秩序问题、法律和经济问题的相互性质以及随之而来的权利的双重性质、效率的问题性质，以及对法律和经济实践采用比较制度方法的必要性。通过认识到法律经济问题的潜在解决方案的多样性以及每个解决方案的潜在价值前提，法律和经济学的比较制度方法试图充实法律经济联系中实际发生的事情以及法律经济决策过程中向社会开放的其他可能性。

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Economics and the Law

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