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History of Law and Economics

12 Pages Posted: 8 Apr 2014  

Martin Gelter

Fordham University School of Law; European Corporate Governance Institute (ECGI)

Kristoffel R. Grechenig

Max-Planck-Institute for Research on Collective Goods

Date Written: April 1, 2014

Abstract

The roots of law & economics lie in late 19th century continental Europe. However, this early movement did not persist, having been cut off in the 1930s. After World War II, modern law & economics was (re-)invented in the United States and subsequently grew into a major field of research at U.S. law schools. In continental Europe, law & economics was re-imported as a discipline within economics, driven by economists interested in legal issues rather than by legal scholars. Hence, the European discourse was more strongly influenced by formal analysis, using mathematical models. Today, research in the U.S., Europe, and in other countries around the world, including Latin America and Asia, uses formal, empirical, and intuitive methods. New subfields, such as behavioral law & economics and experimental law & economics, have grown in the U.S. and in Europe during the past two decades.

Suggested Citation

Gelter, Martin and Grechenig, Kristoffel R., History of Law and Economics (April 1, 2014). MPI Collective Goods Preprint, No. 2014/5. Available at SSRN: https://ssrn.com/abstract=2421224 or http://dx.doi.org/10.2139/ssrn.2421224

Martin Gelter

Fordham University School of Law ( email )

150 West 62nd Street
New York, NY 10023
United States
646-312-8752 (Phone)

HOME PAGE: http://www.fordham.edu/info/23135/martin_gelter

European Corporate Governance Institute (ECGI)

Brussels, B-1050
Belgium

HOME PAGE: http://www.ecgi.org/members_directory/member.php?member_id=621

Kristoffel R. Grechenig (Contact Author)

Max-Planck-Institute for Research on Collective Goods ( email )

Kurt-Schumacher-Str. 10
D-53113 Bonn, 53113
Germany
+49 228 91416-51 (Phone)
+49 228 91416-851 (Fax)

HOME PAGE: http://sites.google.com/site/kristoffelgrechenig

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