Contemporary law and economics has greatly expanded its scope of inquiry as well as its sphere of influence. By focussing specifically on a comparative approach, this Handbook offers new insights for developing current law and economics research. It also provides stimuli for further research, exploring the idea that the comparative method offers a valuable way to enrich law and economics scholarship. With contributions from leading scholars from around the world, the Handbook sets the context by examining the past, present and future of comparative law and economics before addressing this approach to specific issues within the fields of intellectual property, competition, contracts, torts, judicial behaviour, tax, property law, energy markets, regulation and environmental agreements. This topical Handbook will be of great interest and value to scholars and postgraduate students of law and economics, looking for new directions in their research. It will also be a useful reference to policymakers and those working at an institutional level.

The book links the study of comparative law with the study of law and economics

Comparative law and economics is an interdisciplinary research field in which differences among legal systems are analyzed from an economic point of view. The papers in this path-breaking collection illustrate those differences, describe their economic effects and discover which legal rules or systems are optimal from an economic viewpoint. The volume brings together twenty important contributions on property law, contract law, tort law, corporate law, intellectual property law, litigation law and the legal system, and shows how economics can enrich the study of comparative law.

"Each of the chapters was presented at a conference in the spring of 1995, sponsored by Duquesne University and George Mason University"--Pref.

The book is a short introduction to comparative law and economics, a growing field in the interaction between law, economics and comparative political science. It is a guide to economists, lawyers and political scientists looking for a brief overview. It includes both strands of the traditional literature, namely the role of legal families and microeconomic analysis of legal rules in a comparative perspective. The study of courts at the global level is complemented by comparative judicial politics.

This book addresses two countervailing challenges to theory and policy in law and economics. The first is the rise of legal origins theory, which denies the comparative law view of convergence between common law and civil law by the assertion of an economic superiority of common law. The second is the series of economic crises in the very financial markets on which that assertion was based. Both trends unsettled certainties about the rule of law and institutional economics. Meeting legal origins theory in its main areas of political science, sociology and economics, the book extends the interdisciplinary reach to neglected aspects of comparative law, legal history, dynamic econometric analysis and "quasi-natural experiments" with counterfactual evidence of different institutional regimes in divided countries. These combined methodological tools make tests of the economic impact of different legal origins much more reliable. This is shown for developed and newly industrialized countries as well as developing, transforming and emerging countries with or without financial center advantage, affected or not by financial crises. The Asian financial crises and the American subprime crisis have been, or could have been resolved using the resources of common law or civil law. These cases and data on access to justice in Africa, Asia and Latin America reveal the problem of substantive law remaining "law on the books" without efficient procedural rules and judicial structures. The single most striking common law-civil law divide is that lawyer-dominated common law procedure is slower and costlier than judge-managed civil law procedure. Countries as diverse as the Netherlands, Japan, and China show functional interaction between culture and law in legal reforms. Such interaction can reduce the occurrence of legal disputes as well as facilitate their resolution. It can use economic crises as catalysts for legal reforms or rely on regional integration, and it should replace the discredited method of legal "transplants" by sustained dialogue between legal advisors and all actors involved in legal reforms.

Offering a concise and critical comparison of EU competition law and US antitrust law from an economic perspective, this is the ideal textbook for international and interdisciplinary courses combining law and economic approaches.

Ernst-Joachim Mestmacker reviews Richard Posner's and Friedrich A.von Hayek's legal theories. Both are famous for their contributions to law and economics. They are, however, adversaries in their concepts of law and how it is to be informed by economics. Posner finds the only scientific legal theory in the external (economic) analysis of law. With Friedrich von Hayek the role of rules of conduct and legislation is to be determined by the principles that govern a free and competitive order. There are, contrary to Posner, important contributions from legal scholarship, legal history and comparative law.

Comparative Law and Society, part of the Research Handbooks in Comparative Law series, is a pioneering volume that comprises 19 original essays written by expert authors from across the world. This innovative handbook offers both a history of the field of comparative law and society and a thorough exploration of its methods, disciplines, and major issues, presenting the most comprehensive look into this contemporary field to date. In Part I, Methods and Disciplines, contributors approach critical issues in comparative law and society from a variety of academic fields, including sociology, criminology, anthropology, economics, political science, and psychology. This multidisciplinary approach highlights the importance of addressing the variance of perspectives inherent to the field. In Part II, Core Issues, chapters offer an exploration of major legal institutions, processes, professionals, and cultures associated with particular legal subjects. Since authors utilize the perspective of at least two different legal systems, this book offers a truly thorough and wide-ranging focus. the general reader, as well as students and scholars, will find this handbook useful in their continuing explorations into the interaction between law and society. Practitioners such as lawyers and judges with an interest in global perspectives of law will also find much to admire in this innovative volume.