THREE ESSAYS IN LAW & ECONOMICS
Date
2017
Authors
Cartwright, Alexander Chase
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Abstract
Across three chapters, my dissertation marries a market process perspective with traditional law and economics. By investigating the history of thought in modern law and economic analysis, the first paper argues that neoclassical economics inappropriately restricts the domain of law & economics. Chapter one, “Good Economics—Bad Law: A 40-Year Natural Experiment” utilizes Buchanan’s 1974 review of Richard Posner’s Classic textbook to motivate how law and economics has evolved over the past 40 years under heavy neoclassical influence. By distinguishing between ‘efficiency’ as instrumental and final values in law & economics literature, the paper argues that neoclassical law and economics is only able to analyze laws within a given institutional context but unable to aid analysis or discussions over larger meta rules and constitutions.
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Keywords
Economics