Fundamental Principles of Law and Economics

The relationship between law and economics is complex and wide-reaching. This new textbook explains law-and-economics theory in an accessible and straightforward manner. Drawing on the neoclassical tradition of economic analysis of law as well as the behavioural movement from cognitive psychology, Fundamental Principles of Law and Economics provides a comprehensive summary of the relationship between law and economics and legal theory by contextualising legal issues relevant to the UK and the US. In addition to his own analysis of the topic, Devlin provides references at the end of every chapter to the most important books and articles in the field, in order to further individual study.

This textbook places the relationship between law and economics in its international context, explaining the fundamentals of this increasingly important area of teaching and research in an accessible and straightforward manner. In presenting the subject, Alan Devlin draws on the neoclassical tradition of economic analysis of law while also showcasing cutting- edge developments, such as the rise of behavioural economic theories of law.

Key features of this innovative book include:

• case law, directives, regulations, and statistics from EU, UK, and US jurisdictions are presented clearly and contextualised for law students, showing how law and economics theory can be understood in practice;
• succinct end- of-chapter summaries highlight the essential points in each chapter to focus student learning;
• further reading is provided at the end of each chapter to guide independent research.

Making use of tables and diagrams throughout to facilitate understanding, this text provides a comprehensive overview of law-and-economics that is ideal for those new to the subject and for use as a course text for law-and-economics modules.