What is Legal Economics?
Legal Economics is the study of how legal rules and regulations affect economic behavior, and how economic principles can help shape better laws. It examines the costs and benefits of legal decisions, the efficiency of laws, and their impact on society and markets.
Example: Consider traffic fines. By analyzing the economic behavior of drivers, lawmakers can set fines at a level that discourages violations without being excessive. If fines are too low, people may ignore them; if too high, they could cause undue hardship. Legal economics helps strike the right balance.
Here’s a list of some of our significant books on Legal Economics:
Economic Analysis of Law: An Interdisciplinary Approach of Law and Economics in India
Economic Analysis of Law: An Interdisciplinary Approach of Law and Economics in India by Professor V. Vijayakumar and Vivek Ranjan Pandey examines law through an economic lens, covering areas like competition, labor, and criminal law. It highlights the need for lawyers to understand concepts such as efficiency, the Coase theorem, and behavioral economics in practice. The book emphasizes the shift from classical economic models to insights accounting for human biases and cognitive limitations. It provides updated literature to analyze the economic foundations of legal rules. The work is a valuable resource for lawyers, academicians, and researchers, promoting further study in law and economics. Learn more
Law and Economics: Analysing Facets of Public Policy
Law and Economics: Contemporary Perspectives explores how economic analysis informs diverse areas of law, including intellectual property, criminal justice, cyber law, and socio-economic policy. Edited by Prof. Ranita Nagar and Dr. Hiteshkumar Thakkar of GNLU, it combines research papers to provide a comprehensive understanding of law and economics in India. The book covers contemporary issues such as COVID-19 policies, refugee law, gig economy, and digital regulation. By examining legal rules through an economic lens, it offers innovative insights into policy and jurisprudence. It is an essential resource for academics, researchers, and legal practitioners. Learn more
Legal Economics: Interactional Dimensions of Economics and Law
This book on Economics for Law Students simplifies economic concepts to help students understand their relevance to law and society. Part I covers macro and microeconomics, applied economics, and economic challenges, linking theory to socio-legal issues and case law. Part II focuses on the economic analysis of law, addressing torts, contracts, criminal law, tax, and consumer protection. It avoids complex mathematical and statistical analysis to remain accessible for non-experts. Suggested questions and a selected bibliography enhance learning and practical understanding. Learn more
Law and Economics: Breaking New Grounds
Law and Economics: Breaking New Grounds by Ranita Nagar, P. Murali Prasad, and Pavan Mamidi examines the intersection of law and economic analysis in India. It covers areas such as intellectual property, criminal justice, cyber law, and socio-economic policy, showing how economic reasoning informs legal decisions. The book integrates classical and behavioral economic approaches to evaluate the impact of laws on society and markets. It includes empirical studies, case analyses, and policy discussions for practical insights. This work is a valuable resource for academics, researchers, and legal practitioners in the field of law and economics. Learn more
Economic Analysis of Law and Governance
This book offers research papers bridging business-commercial law and economic analysis of legislation on contemporary socio-economic issues. It provides a comprehensive understanding of the theoretical and practical foundations of law and economics. Economic tools are used to analyze markets, institutions, government, and individual behavior under legal and social constraints, offering policy insights. The book presents innovative perspectives on legal and policy issues through economic analysis. It is authored by Prof. Ranita Nagar and Dr. Hiteshkumar Thakkar of GNLU, leading scholars in law and economics. Learn more
