law and economics

Modern legal systems operate in environments characterized by rapid technological change, globalization, and vast flows of data. Traditional legal analysis often treats law as a set of static rules applied…

A well-functioning legal system is essential for justice, economic development, and social stability. However, the effectiveness of a legal system does not depend solely on the existence of laws; it…

The relationship between law and economic development has long fascinated economists, legal scholars, and policymakers. The core idea is simple yet profound: law (the rules, institutions, enforcement, and legal environment)…

Law and economics traditionally builds on the assumption that individuals are rational actors who weigh costs and benefits before making decisions. This classical model sees legal rules as incentives: they…

Introduction Antitrust laws—also known as competition laws—are essential legal frameworks designed to preserve competitive markets by preventing monopolistic practices, promoting innovation, and protecting consumers. In market economies, competition drives efficiency,…

Introduction The debate between regulation and deregulation has been a defining feature of modern economic and legal policymaking. Governments around the world enact regulations to address market failures, protect consumers,…

Introduction Law enforcement institutions play a central role in maintaining public order, deterring crime, and ensuring the rule of law. However, these institutions do not operate with unlimited resources. Police…

Introduction The study of crime and punishment has traditionally been the domain of moral philosophy, criminology, and law. However, the advent of law and economics has introduced a powerful analytical…

Introduction The Coase Theorem, one of the most influential ideas in law and economics, provides a powerful framework for understanding how legal rules affect resource allocation and dispute resolution. Developed…

Introduction Contracts are the backbone of modern economic activity. Every market transaction — from purchasing goods and hiring employees to financing startups and trading internationally — depends on the ability…