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This insightful research review provides analysis of the most important contemporary work by experts in the economic analysis of legal reasoning and interpretation. It explores a wide range of topics in the field, from constitutional to statutory interpretation, precedent and the interpretation of contracts. The articles discussed raise key questions concerning the optimal construction of institutions, the best approach to judicial decision-making, and the best strategies for statutory and contract drafting. This fascinating review will be valuable to academics interested in legal reasoning, economic analysis and legal philosophy.

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Research Reviews

Dedicated to the late Henry G. Manne, this authoritative research review surveys the development of law and economics both as a scholarly field and as an educational program. Starting as a niche area, centered primarily at the University of Chicago, law and economics has grown to be the dominant field in US legal scholarship. The influential articles discussed in this review trace that development from the mid-20th century through to today, focusing on both the personalities who laid the groundwork for the field’s success and the intellectual debates that fueled its growth. Written by two experts in the field, this review is a valuable research tool for academics and students interested in the history of law and economics.

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This research review examines some of the most important articles on the topic of law and economics. Although the wealth of scholarship and the steady expansion of the field make the task of selecting representative works a challenge, the growth rate underscores the relevance and importance of the economic approach to the theory and practice of law. In this essay, therefore, we offer a survey of this vast interdisciplinary movement, exploring its rapid assimilation of disparate legal subject matters. We cannot hope to cover every major result discovered over the course of several decades in the space available. However, we hope to convey at least a general sense of what law and economics is, how it can inform real-world adjudication, and how it developed over the decades.

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Scholarly analysis of corporate law in the United States has come to be dominated by an economic approach. Professor Hill and Professor McDonnell here discuss seminal articles which represent major milestones along the road that economics has traveled in coming to play this central role in corporate law scholarship. The focus is on the analysis of corporate law, drawing mainly upon legal scholarship and particularly on US scholarship, which is the originator of the application of modern economic analysis to corporate law and has had much influence in other countries.

Beginning with several of the key works on the economics of the firm which have most heavily influenced legal scholarship, the review explores the central legal role of the board of directors and state competition for corporate charters. It further considers the role of hostile takeovers and board defenses against them and the effectiveness of shareholder suits and other agency mechanisms.

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Exploring the most important articles from leading authors in the field, Professor Geoffrey Miller’s new research review, Economics of Securities Law, is an essential resource for students, policymakers and those interested in the history and current status of the subject.

The papers covered represent fundamental contributions that shaped later thinking, illustrate approaches that have proven durably influential or represent important challenges to conventional views. The review also analyses new approaches, such as behavioural economics, alongside ‘Chicago School’ papers, comparative analyses and influential works by people involved in the creation of laws governing modern securities markets.

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Covering the most important areas of the subject, such as financial crises, the nature of the banking firm and issues in bank regulation, this research review surveys a comprehensive collection of the papers that have shaped the field of financial law. Professor Geoffrey Miller provides a thorough and authoritative examination of the material.

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This research review discusses influential and diverse readings on the timely subject of immigration, including not only work published by leading economists but also important articles published by legal scholars with a focus on economic issues that are salient in debates over immigration policy. This insightful review explains the contribution that each reading makes to our understanding of immigration and also surveys the literature more broadly so as to put the selected readings in context.

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Comparative law is a field with a rich history, and one to which scholars from many disciplines have contributed. This research review traces the major developments in the field, covering both private and public law, as well as legal institutions and methodological debates. Encompassing more than a century of scholarship, the collection includes a number of the most enduring articles from several disciplinary perspectives and will be an essential resource for the study of comparative law.

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The economic approach to law relies on the use of economic models, mostly mathematical, for understanding the nature and function of law. This research review spans the many sub-areas of law and economics (with papers in torts, contracts, property, crime, and legal procedure) and includes a wide range of papers, incorporating classics and some less well-known papers. Economic Models of Law will be an invaluable resource for active scholars as well as an inspiration for the next generation of modelers.

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This research review assembles an important collection of essays exploring the main issues surrounding the regulation of the environment. The articles illustrate that regulating the environment in the UK is conceptually complex, involves a diverse range of institutions, techniques and methodologies and crosses geographical and national boundaries. In the USA it is more formalised, juridical, adversarial and formally dependent upon legal rules. The articles highlight the fact that despite differences in the UK and the USA's regulatory styles, environmental regulation today has much in common with both traditions.

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Research Reviews