Description

This second edition of Law and Economics for Civil Law Systems substantially updates a unique work that presents the core ideas of law and economics for audiences primarily familiar with civil law systems.

Ejan Mackaay offers a comprehensive look at the essential points of economic reasoning, the Coase Theorem, and legal institutions such as property, extra-contractual civil liability and contracts. The book’s structure mirrors the way law is taught in civil law countries, with structured presentations, references to civil code articles paired with non-technical explanations, and limited reliance on graphs. Building on the success of the 2008 edition of the French-language textbook on law and economics from a civil law perspective, this second English-language version appears alongside the 2021 edition of the French-language book.

This pioneering volume fills a critical gap in the literature of law and economics and will be an invaluable resource for academia, the judiciary, policy-makers, regulators and legal practitioners working in civil law systems.

Contents: Preface 1. Introduction to Law and Economics for Civil Law Systems PART I FOUNDATIONS 2. Individual decision-making 3. Risk and insurance 4. Human interaction 5. The market order 6. The political order 7. Black markets PART II LEGAL INSTITUTIONS 8. The Coase Theorem 9. Property and real rights 10. Extra-contractual civil liability 11. Contract 12. Conclusion to Law and Economics for Civil Law Systems Index