Introduction to Law and Economics

Abstract

The present paper is an introductory paper to the emerging field of law & economics. The paper seeks to define the scope of economic analysis of law; what are the goals of bringing the two disciplines of law and economics together; what is the criterion for measuring efficiency; beginning from the neo-classical approach to the present day discussion on behavioural approach, how did law and economics emerge as a discipline and what is the future of economic analysis of law. This paper is first part of the book on Economic Analysis of Law. Subsequent chapters discuss issues such as game theory, the microeconomic and some basic mathematical principles employed in law and economics.