Bibliographic Details

Economic efficiency in law and economics / Richard O. Zerbe, Jr.

Author / Creator Zerbe, Richard O., Jr.
Imprint Cheltenham, U.K. ; Northampton, Mass. : Edward Elgar, 2001.
Description 1 online resource (v, 328 p.) : ill.
Language English
Series New horizons in law and economics
New horizons in law and economics.
Subject Law and economics.
Economics -- Philosophy.
Electronic books.
Format E-Resource, Book
URL for this record http://pi.lib.uchicago.edu/1001/cat/bib/12241837
Other authors / contributors Edward Elgar Publishing.
ISBN 9781843761488 (e-book)
Notes Includes bibliographical references and index.
Summary In this path-breaking book, Richard Zerbe introduces a new way to think about the concept of economic efficiency that is both consistent with its historical derivation and more useful than concepts currently used. He establishes an expanded version of Kaldor-Hicks efficiency as an axiomatic system that performs the following tasks: the new approach obviates certain technical and ethical criticisms that have been made of economic efficiency; it answers critics of efficiency; it allows an expanded range for efficiency analysis; it establishes the conditions under which economists can reasonably say that some state of the world is inefficient. He then applies the new analysis to a number of hard and fascinating cases, including the economics of duelling, cannibalism and rape. He develops a new theory of common law efficiency and indicates the circumstances under which the common law will be inefficient.
Other form 1840643013 (cased) 184064611X (pbk.) 9781840643015 (hardback) 9781840646115 (pbk.)