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Responding to the growing importance of economic reasoning in legal scholarship, this innovative work provides an essential introduction to the economic tools which can usefully be employed in legal reasoning. It is geared specifically towards those without a great deal of exposure to economic thinking and provides law students, legal scholars and practitioners with a practical toolbox to shape their writing, understanding and case preparation.The book's clear focus on economic methods poses a refreshing change to conventional textbooks in this area, which tend to focus on content-related theories. Recognizing that it is often difficult to derive adequate conclusions for legal arguments without first understanding the methodological limitations of economic studies, this book provides a comprehensive coverage of the most important economic concepts in order to bridge this gap. These include:game theorypublic choice and social choice theorybehavioural economicsempirical research designbasic statisticsOwing to its concise and accessible style, Economic Methods for Lawyers will provide an invaluable companion for legal scholars or practitioners who wish to utilise economic methods for developing legal argument.Contributors include: M. Englerth, S. J. Goerg, S. Magen, A. Morell, N. Petersen, K.U. Schmolke, E.V. Towfigh
Emanuel V. Towfigh, EBS University Wiesbaden and Peking University School of Transnational Law, PR China and Niels Petersen, University of Münster, Germany
Contents:Preface1. Economic Methods and Legal ReasoningNiels Petersen and Emanuel V. Towfigh2. The Economic ParadigmEmanuel V. Towfigh3. Demand, Supply and MarketsAlexander Morell4. Game Theory and Collective GoodsStefan Magen5. Contract Theory and the Economics of Contract LawKlaus Ulrich Schmolke6. Public and Social Choice TheoryEmanuel V. Towfigh and Niels Petersen7. Empirical Research and StatisticsSebastian J. Goerg and Niels Petersen8. Behavioral Law and EconomicsMarkus EnglerthIndex
'Narrow-minded lawyers think they need no economics. Negligent lawyers think they need no help for understanding economics. Smart lawyers treat economic arguments as challenging but tractable, and turn to this book for advice. They will find themselves powerfully retooled.'