Economic Analysis of Law
/ˌiːkəˈnɑːmɪk əˈnæləsɪs əv lɔː/
Definitions
- (n.) An interdisciplinary approach applying economic principles to analyze and predict the effects of laws and legal institutions.
Economic analysis of law explains how legal rules influence behavior and resource allocation.
Related terms
Commentary
Often used to evaluate the efficiency and incentives created by legal rules, economic analysis of law bridges economics and jurisprudence.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.