Description
Book SynopsisThis second edition of
Law and Economics for Civil Law Systems substantially updates a unique work that presents the core ideas of law and economics for audiences primarily familiar with civil law systems.
Ejan Mackaay offers a comprehensive look at the essential points of economic reasoning, the Coase Theorem, and legal institutions such as property, extra-contractual civil liability and contracts. The book’s structure mirrors the way law is taught in civil law countries, with structured presentations, references to civil code articles paired with non-technical explanations, and limited reliance on graphs. Building on the success of the 2008 edition of the French-language textbook on law and economics from a civil law perspective, this second English-language version appears alongside the 2021 edition of the French-language book.
This pioneering volume fills a critical gap in the literature of law and economics and will be an invaluable resource for academia, the judiciary, policy-makers, regulators and legal practitioners working in civil law systems.
Trade Review‘This formidable book offers an insightful unifying perspective on the research carried out in law and economics over the last decades. From his unique Canadian standpoint, Ejan Mackaay is able to bridge over the common and the civil law traditions, illustrating the theory with cases and examples taken from both North American and European legal systems. The rigor of the analysis is accompanied by illuminating discussions, covering historical developments, philosophical insights, and up-to-date policy debates.’ -- Luigi Alberto Franzoni, University of Bologna, Italy
‘This elegantly written book fills a significant gap for the benefit of all students and scholars of law and economics in civil law countries and is a monumental achievement. The author, a leading law and economics scholar with an outstanding and intimate comparative knowledge of civil law across countries and continents shows comprehensively as nobody else the impact of economics for the understanding of legal norms in civil law countries.’ -- Hans-Bernd Schäfer, Bucerius Law School, Germany
'Six decades into the development of law-and-economics, many critics still hold the view that law-and-economics is for American law only. Ejan Mackaay forcefully demonstrates the opposite. Using stipulations in French Civil Code and Quebec Civil Code as the prime examples, Law and Economics for Civil Law Systems
shows how jurists in civil-law countries and mixed jurisdictions can benefit from economic insights.' -- Yun-chien Chang, Academia Sinica, Taiwan
Table of ContentsContents: Preface 1. Introduction to Law and Economics for Civil Law Systems PART I FOUNDATIONS 2. Individual decision-making 3. Risk and insurance 4. Human interaction 5. The market order 6. The political order 7. Black markets PART II LEGAL INSTITUTIONS 8. The Coase Theorem 9. Property and real rights 10. Extra-contractual civil liability 11. Contract 12. Conclusion to Law and Economics for Civil Law Systems Index
