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Lawyers' economics vs. economic analysis of law

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  • Backhaus, Jürgen G.

Abstract

A methodological critique of the Chicago School of legaleconomic analysis, in particular Posner's approach, is illustrated by an example characterizing Chicago-type 'analysis of law'. Although the discussion of the example referred to may be interesting in its own right, its purpose here is to suggest a more general framework of criticism in order to allow for generalizable conclusions. The suggestion of an alternative interpretation and solution to a particular legal problem serves to point out some limits of the methodology Posner has adopted. This applies more generally to the delineation of the limits of the role economics can play in actual litigation in helping judges and juries to arrive at fair as well as socially efficient solutions.

Suggested Citation

  • Backhaus, Jürgen G., 1978. "Lawyers' economics vs. economic analysis of law," Discussion Papers, Series I 117, University of Konstanz, Department of Economics.
    • Handle: RePEc:zbw:kondp1:117
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    Cited by:

    1. Jean-Baptiste Fleury & Alain Marciano, 2022. "Richard A. Posner (1939–)," Springer Books, in: Robert A. Cord (ed.), The Palgrave Companion to Chicago Economics, chapter 35, pages 901-923, Springer.
    2. Göran Skogh & Luisa Tibiletti, 1999. "Compensation of Uncertain Lost Earnings," European Journal of Law and Economics, Springer, vol. 8(1), pages 51-61, July.
    3. Jean-Baptiste Fleury & Alain Marciano, 2022. "Methodological Individualism and the Foundations of the "Law and Economics" movement," Post-Print hal-03820441, HAL.

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