A Review of Steven Shavell's Foundations of Economic Analysis of Law
Posner, RichardA. 2006. "A Review of Steven Shavell's Foundations of Economic Analysis of Law."
Journal of Economic Literature,
Steven Shavell's Foundations of Economic Analysis of Law (Harvard University
Press, 2004) is a major theoretical contribution to "law and economics," the applied
field of economics that studies the economic properties and consequences of legal doctrines
and institutions. It is a field of immense practical importance, but unfamiliar to
many economists--a situation that Shavell's book bids fair to rectify. This review
essay situates Shavell's book in the history of economic scholarship about law and uses
the book as a springboard for speculation about new directions in that scholarship.
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Posner, Richard A.