The Future of Law and Economics and the Calabresian External Moral Costs

18 Pages Posted: 31 Dec 2016

See all articles by Ariel Porat

Ariel Porat

Tel Aviv University; University of Chicago - Law School

Date Written: December 29, 2016

Abstract

This short essay is a contribution to a symposium held at the Hebrew University of Jerusalem on Professor Calabresi's "The Future of Law and Economics." It focuses on Calabresi's arguments that tort law facilitates a modified market for merit goods, and that external moral costs should be seriously taken into account by the state and the law in making and implementing difficult social choices. The essay points out two categories of situations where tort law fails to facilitate modified markets for merit goods, and highlights the hurdles in considering external moral costs at least in some cases.

Suggested Citation

Porat, Ariel, The Future of Law and Economics and the Calabresian External Moral Costs (December 29, 2016). University of Chicago Coase-Sandor Institute for Law & Economics Research Paper No. 787; Jerusalem Review of Legal Studies, Forthcoming; U of Chicago, Public Law Working Paper No. 604; University of Chicago Coase-Sandor Institute for Law & Economics Research Paper No. 787. Available at SSRN: https://ssrn.com/abstract=2891443

Ariel Porat (Contact Author)

Tel Aviv University ( email )

Ramat Aviv
Tel Aviv 69978, IL
Israel
972-3-6408283 (Phone)
972-3-6407260 (Fax)

HOME PAGE: http://english.tau.ac.il/profile/porata

University of Chicago - Law School ( email )

1111 E. 60th St.
Chicago, IL 60637
United States

HOME PAGE: http://www.law.uchicago.edu/faculty/porat

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