Empirical Law and Economics

Oxford Handbook of Law and Economics, edited by Francesco Parisi, Forthcoming

U of Penn, Inst for Law & Econ Research Paper No. 14-39

26 Pages Posted: 10 Oct 2014 Last revised: 19 Jun 2018

See all articles by Jonah B. Gelbach

Jonah B. Gelbach

University of Pennsylvania Law School

Jonathan Klick

University of Pennsylvania Law School; Erasmus School of Law; PERC - Property and Environment Research Center

Date Written: October 8, 2014

Abstract

Empirical work has grown in importance in law and economics. This growth coincides with improvements in research designs in empirical microeconomics more generally. In this essay, we provide a stylized discussion of some trends over the last two or three decades, linking the credibility revolution in empirical micro to the ascendancy of empirical work in law and economics. We then provide some methodological observations about a number of commonly used approaches to estimating policy effects. The literature on the economics of crime and criminal procedure illustrates the ways in which many of these techniques have been used successfully. Other fields, including corporate law and economics and the law and economics of civil procedure, have lagged behind in methodological terms.

Keywords: applied econometrics, event studies, crime, civil procedure, Police Academy, octuple differences, Buckaroo Banzai

JEL Classification: K00, K14, K22, K41

Suggested Citation

Gelbach, Jonah B. and Klick, Jonathan, Empirical Law and Economics (October 8, 2014). Oxford Handbook of Law and Economics, edited by Francesco Parisi, Forthcoming; U of Penn, Inst for Law & Econ Research Paper No. 14-39. Available at SSRN: https://ssrn.com/abstract=2507324 or http://dx.doi.org/10.2139/ssrn.2507324

Jonah B. Gelbach

University of Pennsylvania Law School ( email )

3501 Sansom Street
Philadelphia, PA 19104
United States

Jonathan Klick (Contact Author)

University of Pennsylvania Law School ( email )

3501 Sansom Street
Philadelphia, PA 19104
United States
2157463455 (Phone)

Erasmus School of Law ( email )

3000 DR Rotterdam
Netherlands

PERC - Property and Environment Research Center

2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

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