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2007, iss. 50, pp. 189-208
Notion and importance of Economic Analysis of Law
Univeristy of Niš, Faculty of Law
Keywords: Economic Analysis of Law; doctrines; institutions; economic methods; efficiency; rational choice; economic analysis of crime
Abstract
The idea of applying economic methods in law had existed before creation and development of modern scientific discipline named the Economic Analysis of Law. That idea was promoted by members of German Historical School and Institutionalism School. Latter, it was accepted and worked out by numerous theoreticians, both in America and Europe. They propelled the emergence of the new scientific discipline in the mid twentieth century which contributed a great deal to the making systematic connection between law and economic principles, as well as to understanding law and legal institutes in a new way. Methods of Economic Analysis of Law or Law and Economics could be applied in analyzing any field of social practice criminal behavior, family and marriage behavior, political interest groups etc. In those analyses, standard economic models could be applied, such as supply and demand model, market model as well as the regular economic methods (e.g. statistic method), which provide a new insights, which is of great importance and benefit for the legal theory and practice. Due to its practical role and significance in fuller understanding of the law and legal institutes, and especially theirs economic effects, the Economic Analysis of Law is becoming apart of curricula at faculties of law throughout the world.
References
Alchian, A.A. (1965) Some economics of property rights. Il Politico, 30, br. 4, str. 816-829
Calabresi, G. (1961) Some thoughts on risk-distribution and the law of torts. Yale Law Journal, br. 70, str. 499-553
Coase, R.H. (1937) The nature of the firm. Economica, vol. 4, br. 5, str. 386-405
Coase, R.H. (1960) The problem of social cost. Journal of Law and Economics, vol. 3, str. 1-44
Posner, R.A. (1998) Economic analysis of law. New York: Aspen Law & Business
Rowley, C.K. (1989) Public choice and the economic analysis of law. Boston: Cluwer Academic Publishers
 

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article language: Serbian
document type: unclassified
published in SCIndeks: 16/06/2008

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