Consumer Welfare Hypothesis in Law and Economics

Towards a Synthesis for the 21st Century

Inbunden, Engelska, 2022

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The Consumer Welfare Hypothesis in Law and Economics is a compelling account of market relations with firm roots in economic theory and legal practice. This incisive book challenges the mainstream view that allocative efficiency is about total welfare maximisation. Instead, it argues for the consumer welfare hypothesis, in which allocating resources efficiently means maximising consumer welfare, and demonstrates that legal structures such as antitrust and consumer law are in reality designed and practised with this goal in mind.Using this paradigm, Fabrizio Esposito overcomes the opposition between efficiency and distribution and provides a firmer basis for debates about the foundations of contract law, antitrust law and consumer law, particularly in the European Union. The outcome is a bilateral view of the connection between the law and the economy and a rich research agenda to further understanding of the legal-economic nexus.Scholars and students of law and economics, as well as contract, consumer and antitrust and competition law will find this book a thought-provoking study. Its innovative yet straightforward conceptual framework will also be of interest to practitioners, policymakers and stakeholders in these fields.

Produktinformation

Utgivningsdatum2022-11-25
Mått156 x 234 x undefined mm
Vikt0 g
FormatInbunden
SpråkEngelska
SerieNew Horizons in Law and Economics series
FörlagEdward Elgar Publishing Ltd
ISBN9781800379640

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Bolagsrätt inom Juridik
Rättsvetenskap inom Juridik
Nationalekonomi inom Ekonomi och ledarskap

Contents: Introducing The Consumer Welfare Hypothesis 1. Canvassing a realistic cathedral with efficiency amongst its pillars PART I ALLOCATIVE EFFICIENCY CAN BE ABOUT CONSUMER WELFARE 2. A triangle is not a crown 3. The giants before us PART II ALLOCATIVE EFFICIENCY IS ABOUT CONSUMER WELFARE IN EU ANTITRUST AND CONSUMER LAW 4. How to search for allocative efficiency in law 5. Allocative efficiency in EU antitrust law 6. Allocative efficiency in EU consumer law Conclusions on The Consumer Welfare Hypothesis Legislation and cases Bibliography Index

‘The Consumer Welfare Hypothesis is the child of a generation forced in many ways to take stock of the default of free-market policies on their promise to enhance human welfare in a framework of security and peace. A powerful streak of intellectual irreverence towards the ideology of welfare maximisation entrenched in academic, economic and political institutions worldwide connects the mockery of the “zombification” of economic thinking to contemporary climate activism. In this book, lawyers and economists will find a trove of thought-provoking questions and valuable insights.’