Law and Economics for Civil Law Systems

This unique volume presents the core ideas of law and economics for audiences primarily familiar with civil law systems. The book’s structure mirrors the way law is taught in civil law countries, with structured presentations, references to civil code articles paired with non-technical explanations, and limited reliance on graphs.

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This formidable book offers an insightful unifying perspective on the research carried out in law and economics over the last decades. From his unique Canadian standpoint, Ejan Mackaay is able to bridge over the common and the civil law traditions, illustrating the theory with cases and examples taken from both North American and European legal systems. The rigor of the analysis is accompanied by illuminating discussions, covering both historical developments and up-to-date policy debates.'
- Luigi Alberto Franzoni, University of Bologna, Italy'In this book, Professor Mackaay provides a wonderfully lucid and insightful elucidation of law and economics concepts as applied to civil law systems. Professor Mackaay's new book will substantially advance the study of economic analysis of law in civil law jurisdictions, as well as substantially enhancing opportunities for comparative law and economics research by scholars in common law jurisdictions.'
- Michael Trebilcock, University of Toronto, Canada

This unique volume presents the core ideas of law and economics for audiences primarily familiar with civil law systems.

Ejan Mackaay offers a comprehensive look at the essential points of economic reasoning, the Coase Theorem, and legal institutions such as intellectual property, extra-contractual civil liability and contracts. The book's structure mirrors the way law is taught in civil law countries, with structured presentations, references to civil code articles paired with non-technical explanations, and limited reliance on graphs. This English-language version builds on the success of the author's 2008 French-language textbook on law and economics from a civil law perspective.

This pioneering volume fills a critical gap in the literature of law and economics, and will be an invaluable resource for lawyers and law students working in civil law systems.

Contents: Preface Introduction Part I: Foundations 1. Individual Decision-making 2. Risk and Insurance 3. Human Interaction 4. The Market Order 5. The Political Order 6. Black Markets Part II: Legal Institutions 7. The Coase Theorem 8. Property and Real Rights 9. Intellectual Property Rights 10. Extra-contractual Civil Liability 11. Contract Conclusion Index