Frank Easterbrook and Daniel Fischel
PIONEERS OF LAW AND ECONOMICS, Lloyd R. Cohen and Joshua D. Wright, eds., Edgar Publishing, 2008
26 Pages Posted: 5 Feb 2008
This chapter in the book PIONEERS OF LAW AND ECONOMICS summarizes the role of Frank Easterbrook and Daniel Fischel in the development of modern law and economics. I first summarize their conceptual, methodological, and substantive innovations. I then discuss details of their work on hostile takeovers, disclosure regulation, and limited liability, and place their contribution in a broader context of prior and contemporaneous work. Finally, I discuss what we've learned about those subjects in more than 20 years since the publication of Easterbrook and Fischel's pioneering work; the areas where they turned out to be right or wrong; and the areas on which we still know very little.
Keywords: law and economics, Easterbrook, Fischel, takeovers, disclosure, limited liability
JEL Classification: K00, K22, N00, N40
Suggested Citation: Suggested Citation