Law and economics versus economic analysis of law

I agree with Calabresi’s general distinction between Economic Analysis of Law and Law and Economics. However, these broad categories may obscure important differences between types of law and economics scholarship. I would distinguish positive economic analysis from normative economic analysis, and...

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Bibliographic Details
Published in:	European journal of law and economics Vol. 48; no. 1; pp. 77 - 88
Main Author:	Hylton, Keith N.
Format:	Journal Article
Language:	English
Published:	New York Springer US 01-08-2019 Springer Nature B.V
Subjects:	Commercial Law Economic analysis Economics Economics and Finance European Integration Law and Economics Public Finance Positive economics B31 Law and economics Legal positivism A12 Normative economics Norms K10 Economic analysis of law Transaction costs Behavioral economics B41 B52
Online Access:	Get full text
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Summary:	I agree with Calabresi’s general distinction between Economic Analysis of Law and Law and Economics. However, these broad categories may obscure important differences between types of law and economics scholarship. I would distinguish positive economic analysis from normative economic analysis, and positivist legal analysis from nonpositivist analysis. The four categories generated by these distinctions provide a more fine-grained map of the styles of reasoning in law and economics, and has implications for the future of law and economics.
ISSN:	0929-1261 1572-9990 1572-9346
DOI:	10.1007/s10657-018-9580-0