Law and economics versus economic analysis of law

Keith N. Hylton ()
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Keith N. Hylton: Boston University

European Journal of Law and Economics, 2019, vol. 48, issue 1, No 6, 77-88

Abstract: Abstract I agree with Calabresi’s general distinction between Economic Analysis of Law and Law and Economics. However, these broad categories may obscure important differences between types of law and economics scholarship. I would distinguish positive economic analysis from normative economic analysis, and positivist legal analysis from nonpositivist analysis. The four categories generated by these distinctions provide a more fine-grained map of the styles of reasoning in law and economics, and has implications for the future of law and economics.

Keywords: Law and economics; Economic analysis of law; Legal positivism; Positive economics; Normative economics; Transaction costs; Norms; Behavioral economics (search for similar items in EconPapers)
JEL-codes: A12 B31 B41 B52 K10 (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s10657-018-9580-0

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