Encyclopedia of Law and Economics

2019 Edition
| Editors: Alain Marciano, Giovanni Battista Ramello

Law and Economics

  • Pablo Salvador CoderchEmail author
  • Antoni Terra IbáñezEmail author
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-7753-2_284



Law and Economics is economics applied to the analysis of statutory law systems or subsystems or to legal policy proposals.

Historical Remarks

To talk about Law and Economics or, equally, of the Economic Analysis of Law is to refer to the application of economic science tools to national and international systems of statutory law, as well as to legal policy proposals.

Positive analysis is to be distinguished from normative analysis. Within the framework of positive analysis, economic science is employed within a system of statutory law to explain and predict the consequences of the application of one or more sets of judicial system rules in questions concerning human conduct. It consists, therefore, in elucidating the manner in which people react to the enactment, enforcement, abolition, or reformation of such rules of law. In this sense, the Economic Analysis of Law is a system of theories regarding human behavior. The key question...

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Copyright information

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

Authors and Affiliations

  1. 1.Universitat Pompeu FabraBarcelonaSpain
  2. 2.Stanford Law SchoolStanfordUSA