Lecture 1b Introduction to Law and Economics(1).pdf

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Lecture 1b: Introduction to Law and Economics
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Outline History of law and economics Why has economic analysis of law succeeded? A brief introduction to legal traditions
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History of Law and Economics 1 The interaction between economics and law has a long tradition. Traditionally, law confined the use of economics to antitrust law, regulated industries, tax, and calculating damages. Law needed economics to answer such questions as What is the defendant’s market share? What would happen to the market price if two companies merger? How much did the defendant over charge their customers through collusive schemes?
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