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Towards A Better Explanation Of Law And Economics: Revisiting Rational Choice Theory And The Market As A Framework For Legal Decisions, Sophie Stoyan

Master of Laws Research Papers Repository

As one of the most popular and influential legal ideologies since its inception in the late 1950s and early 1960s, there is a vast wealth of law and economics scholarship with remarkable breadth encompassing nearly every area of law. Yet despite the abundance of scholarship examining legal issues through a law and economics lens, there is comparatively little literature explaining law and economics itself. This paper seeks to overcome this gap in the literature by more clearly explaining the economic concepts on which the theory is built and the connections between these concepts. In other words, this paper aims to …