Law and Economics
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By Lawrence B. Solum Introduction This week the Legal Theory Lexicon investigates the Coase theorem. Ronald Coase was a member of the law and economics faculties at the University of Chicago and a winner of the Nobel Prize in Economics. The idea that we call the Coase Theorem was advanced in a very famous paper:…
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By Lawrence B. Solum Introduction If I had to select only one theoretical tool for a first-year law student to master, it would be the ex post/ex ante distinction. (Of course, this is cheating, because there is a lot packed into the distinction.) The terminology comes from law and economics, and here is the basic…