Calabresi and the Intellectual History of Law and Economics
20 Pages Posted: 18 May 2004
Date Written: May 17, 2004
This essay traces the vein of thought represented by Calabresi's "The Costs of Accidents", both backward in time to examine its sources, and forward to its impact on current scholarship. I focus on three broad topics: positive versus normative law and economics, positivist versus anti-positivist thinking in law, and the assumption of rationality in law and economics.
Keywords: economic analysis of law, rationality, legal positivism, normative economics, positive economics, utilitarianism, instrumentalism, behavioral economics, optimal deterrence
JEL Classification: B29, K11, K14, K19, K49
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