Law and Economics Versus Economic Analysis of Law

13 Pages Posted: 18 Sep 2017 Last revised: 5 Apr 2018

See all articles by Keith N. Hylton

Keith N. Hylton

Boston University - School of Law

Date Written: March 30, 2018

Abstract

I agree with Calabresi’s general distinction between Economic Analysis of Law and Law and Economics. However, these broad categories may obscure important differences between types of law and economics scholarship. I would distinguish positive economic analysis from normative economic analysis, and positivist legal analysis from nonpositivist analysis. The four categories generated by these distinctions provide a more fine-grained map of the styles of reasoning in law and economics, and has implications for the future of law and economics.

Keywords: law and economics, economic analysis of law, legal positivism, positive economics, normative economics, transaction costs, norms, behavioral economics

Suggested Citation

Hylton, Keith N., Law and Economics Versus Economic Analysis of Law (March 30, 2018). European Journal of Law and Economics, Forthcoming; Boston Univ. School of Law, Law and Economics Research Paper No. 17-40. Available at SSRN: https://ssrn.com/abstract=3024605

Keith N. Hylton (Contact Author)

Boston University - School of Law ( email )

765 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
617-353-3077 (Fax)

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