Legal Economics
/ˈliːɡəl ˌiːkəˈnɒmɪks/
Definitions
- (n.) The interdisciplinary study of law using economic principles to analyze legal rules, institutions, and behaviors.
Legal economics helps policymakers assess the efficiency of laws and regulations.
- (n.) A field examining the economic impacts and incentives created by legal structures and decisions.
The legal economics perspective influenced the reform of contract law to reduce transaction costs.
Forms
- legal economics
Related terms
See also
Commentary
Legal economics is often synonymous with law and economics; drafting distinctions should clarify context—whether broad interdisciplinary study or specific economic analysis of legal frameworks.
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.