Cover of The Economic Approach to Law, Second Edition by Thomas J. Miceli
The Economic Approach to Law, Second Edition
Thomas J. Miceli


424 pages.

Cloth ISBN: 9780804756709
Digital ISBN: 9780804772655


Excerpts and More

Third Edition available in October 2017!

Designed specifically for economics students, The Economic Approach to Law, 2nd Edition, provides an introductory treatment of law and economics, revealing how economic principles explain the structure of the law, and how they can help make the law more efficient. To that end, the author focuses on unifying themes in the field—rather than exhaustively covering legal topics—and thus provides a more analytical treatment of the subject.

The second edition includes current research into the economics of common law areas, such as torts, contracts, and property law. The revised text also offers a new chapter that explores how economics can be applied to anti-trust law, as well as added material on intellectual property. This edition features an expanded suite of exercises and problems at the end of each chapter to encourage students to "do" law and economics.

A companion web site offers a full suite of resources for students and professors. Key pedagogical features include cases; discussion points that provide additional analysis of topics in the book; graduate notes, which deepen the text for more advanced readers; and relevant Web links. Professors have access to sample syllabi for undergraduate and graduate courses and to an instructor's manual providing suggested answers to all of the end-of-chapter questions/problems in the book.

About the author

Thomas J. Miceli is Professor of Economics at the University of Connecticut.

"The second edition of Miceli's The Economic Approach to Law is most welcome. Miceli's approach is to start with the socially optimal solution to any problem and then examine individual behavior. His unremitting economic approach hammers home the economic way of thinking about law and economics. The writing is as clear as the thought process. My students like this book a lot."

—Roger D. Blair, University of Florida

"In The Economic Approach to Law, Thomas Miceli offers a clear, concise, and consistent exploration of the economics of law. This book is ideal for readers who are familiar with microeconomic theory and can use it to analyze how the law affects consumer and firm behavior. Miceli illustrates how legal rules can encourage use of efficient precautions, reduce transactions costs, and spread risk."

—Michelle J. White, University of California, San Diego