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Vol 21 No 9 Sept/Oct 2016

Book of the Month

Cover of Colinvaux's Law of Insurance

Colinvaux's Law of Insurance

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Economic Efficiency in Law and Economics New ed

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ISBN13: 9781840646115
ISBN: 184064611X
Published: August 2002
Publisher: Edward Elgar Publishing Limited
Format: Paperback
Price: £33.00



Despatched in 4 to 6 days.

In this text Zerbe introduces a way to think about the concept of economic efficiency that is both consistent with its historical derivation and more useful than contemporary concepts. He establishes an expanded version of Kaldor-Hicks efficiency as an axiomatic system that performs the tasks of: allowing an expanded range for efficiency analysis; and estabilshing the conditions under which economists can reasonably say that some state of the world is inefficient. He then applies the analysis to a number of hard and interesting cases, including the economics of duelling, cannibalism and rape. He develops a theory of common law efficiency and indicates the circumstances under which a common law will be inefficient.

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Subjects:
Law and Economics