Law and Economics versus Economic Analysis of Law

14 Pages Posted: 8 Apr 2011 Last revised: 20 Jun 2011

Date Written: April 7, 2011


This paper distinguishes law and economics – conceived as an equal partnership between two disciplines – and economic analysis of law, conceived as the application of economic reasoning to legal rules and institutions. I explore the difference by contrasting Robert Aumann’s economic analysis of a text from the Talmud with an analysis of the same text conducted from within the framework of law and economics. The paper demonstrates that law and economics and economic analysis of law offer complementary means for obtaining information about the social world.

Suggested Citation

Miller, Geoffrey P., Law and Economics versus Economic Analysis of Law (April 7, 2011). NYU Law and Economics Research Paper No. 11-16, Available at SSRN: or

Geoffrey P. Miller (Contact Author)

New York University School of Law ( email )

Center for the Study of Central Banks
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