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Law and economics versus economic analysis of law

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  • Keith N. Hylton

    (Boston University)

Abstract

I agree with Calabresi’s general distinction between Economic Analysis of Law and Law and Economics. However, these broad categories may obscure important differences between types of law and economics scholarship. I would distinguish positive economic analysis from normative economic analysis, and positivist legal analysis from nonpositivist analysis. The four categories generated by these distinctions provide a more fine-grained map of the styles of reasoning in law and economics, and has implications for the future of law and economics.

Suggested Citation

  • Keith N. Hylton, 2019. "Law and economics versus economic analysis of law," European Journal of Law and Economics, Springer, vol. 48(1), pages 77-88, August.
    • Handle: RePEc:kap:ejlwec:v:48:y:2019:i:1:d:10.1007_s10657-018-9580-0
    DOI: 10.1007/s10657-018-9580-0
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    More about this item

    Keywords

    Law and economics; Economic analysis of law; Legal positivism; Positive economics; Normative economics; Transaction costs; Norms; Behavioral economics;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)

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