1.4 — Should Law be Efficient? — Class Content
Contents
Thursday, February 11, 2021
Overview
After having reviewed what efficiency means in economics, why markets and voluntary exchange is efficient, and what forces give rise to inefficiencies, we discuss whether and why the law should be efficient. We will then conclude with a brief (re)introduction to static game theory to prepare to first look at property law.
Readings
- Ch. 1.III in Cooter and Ulen, 2012, Law & Economics
- Ch. 2 in Friedman, 2000, Law’s Order
- Posner, 1980, “The Ethical and Political Basis of the Efficiency Norm in Common Law Adjudication”
- Landsburg, 2010, “Efficiency Experts”
- SMBC: Super Efficient
Slides
