Law and Economics versus Economic Analysis of Law
Geoffrey P. Miller
New York University School of Law
April 7, 2011
NYU Law and Economics Research Paper No. 11-16
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.
Number of Pages in PDF File: 14
Date posted: April 8, 2011 ; Last revised: June 20, 2011