LAW 5854: Law and Economics Seminar - 2164

This seminar introduces principles of positive and normative microeconomics to explore the extent to which they can explain the workings of the legal system and to examine the effect of legal rules on behavior. Covered topics include the Coase Theorem; the choice between property, liability, and inalienability rules; comparative liability rules (e.g., negligence versus strict liability); contractual damages; criminal liability; family law; game theory; and legal decision theory (e.g., risk, uncertainty).