Encyclopedia of Law and Economics

2019 Edition
| Editors: Alain Marciano, Giovanni Battista Ramello

Efficiency, Types of

  • Henk J. ter BogtEmail author
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-7753-2_43

Abstract

Efficiency is an important concept in the field of law and economics. The precise meaning of the term efficiency is not unequivocal and depends on the context in which it is used. In practice, efficiency often relates to economic efficiency. However, such forms as social and political efficiency can also be very important for the continuity of a society or an organization.

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Copyright information

© Springer Science+Business Media, LLC, part of Springer Nature 2019

Authors and Affiliations

  1. 1.University of GroningenGroningenThe Netherlands