Encyclopedia of Law and Economics
Show Less

Encyclopedia of Law and Economics

Edited by Gerrit De Geest

The second, expanded edition of the acclaimed Encyclopedia represents a major update of the most authoritative reference work in the field of law and economics and the nine print volumes are now released online as a single integrated product. The Encyclopedia provides balanced and comprehensive coverage of the major domain in law and economics, including: criminal law, regulation, property law, contract law, tort law, labor and employment law, antitrust law, procedural law, and the production of legal rules. Each theme or volume is overseen by a leading scholar and each of the 166 entries is prepared by an expert in the field, providing an in-depth and authoritative overview of the individual topic, combined with an exhaustive bibliography, allowing users to access and filter the entire corpus of literature in law and economics. As with the print edition, the Encyclopedia is unique in serving both as an entry point and a platform for advanced research. The online edition is enhanced with Elgaronline’s powerful search tools, facilitating the search for key terms across the entire Encyclopedia, whilst the browse function allows users to move seamlessly between the volumes. These elements combine to create a powerful research tool for any researcher or scholar in the field of law and economics.
Show Summary Details
This content is available to you

Index: Index

[In: Volume 10, Thomas S. Ulen (ed) Methodologies of Law and Economics]

  • abortion and crime 132

  • academic fraud 26971

  • Acemoglu, Daron 131, 146

  • adaptation 157, 213

    • as invitations to make as offer (US default rule) 923

    • as offers 923

    • three elements of 157

    • see also variation; reproduction; and selection advertisements

  • affective forecasting 21214

    • and criminal law 22224

    • and tort liability 22122

    • leading to victim overcompensation 222

  • agent-based models 1689

  • Alchian, Armen 156, 162

  • Allen, Douglas 130 (n. 3)

  • Allen v. Wright 634

  • allocative efficiency see efficiency

  • Always Cooperate 167

    • see also dynamic evolutionary game theory

  • Always Defect 167

    • see also dynamic evolutionary game theory

  • American Law and Economics Association 3

  • Anderson, Coe & King 8

  • anti-positivist (Dworkin) 108

  • Arminjon, Pierre 186

    • Arrow Impossibility Theory see Impossibility Theorem

  • Arrow, Kenneth J. 8, 48

  • Arthur, W. Brian 163

  • Articles of Confederation 50

  • Ashenfelter, Orley 250

  • Association of Data Processing Service Organizations, Inc. v. Camp 62

  • autonomous agency 103

  • Avoidance Rule in contract law 91

  • Ayres, Ian 250 (n. 10)

  • Azcárate, Gumersindo de 184

  • “bad man” theory of law see Holmes

  • Baird, Douglas G. 3

  • Baker, C. Edwin 11415

  • Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) 218

  • bargaining costs see transaction costs Barnard, Dr. Christiaan 210 battles of the sexes 49

    • see contract law as games

  • Bazalgette, Joseph 249

  • Becker, Gary 28, 229

    • see also BPS model of crime

  • Belleisles, Michael 26970

  • Ben-Shahar, Omri 219

  • Benartzi, Shlomo 215

  • Bentham, Jeremy 21

  • Bergson, Abram 8

  • Berkowitz, Daniel 137

  • Berlin, Isaiah 116

  • Bevilaqua, Clovis 184

  • bicameralism 36

  • bidirectional histories see legal history bilateral care model 24

    • see also unilateral care model

  • biology 1415

  • Birmingham, Robert 1 (n. 1)

  • Black Death, legal responses to 13031

  • Blue Sky Laws 131

  • Blumenthal, Jeremy 214

  • Board of Regents v. Bakke 64

  • Bogart, Dan 1356

  • Boomer v. Atlantic Cement 36

  • BPS model of crime 289

  • Bratman, Michael 1067

  • Brazilian Civil Code of 1916 184

  • Brenner, Reuven 131

  • Brickman, Philip 213

  • Bronsteen, Jon 213

  • Brown, John Prather 22, 234

  • Bubb, Ryan 215

  • Bubble Act of 1720 123

  • Burt, Sir Cyril 269

  • p. 278Calabresi and Melamed 112

  • Calabresi, Guido 1 (n. 1), 2512

  • calendaring rules 46

  • California gold rush 1423

  • cases as unreliable sources of historical information 125

  • Chen, Keith 223

  • chicken 49

  • cholera 2479

  • Clark, Gregory 135

  • classical utilitarianism 103

  • Clay, Karen B. 137

  • Coase, Ronald 1 (n. 1), 74, 124 Coase Theorem 2, 312, 52, 745, 78, 208

    • causation 31

  • Commerce Clause

    • see also dormant Commerce Clause

  • common law

    • efficiency of 28

  • common law, economic analysis of 7685

  • common law v. civil law 18092

  • critiques of legislative law and regulation as subject to capture 193

  • questions about under-theorization 195

  • supposed superiority of common law for growth 1923

  • see also economic growth and legal systems; legal origins; LLSV

  • Commonwealth Edison v. Montana 58 (n. 11)

  • community responsibility system 13841

    • English legislation to abolish collective responsibility 139

  • comparative negligence 95 compensatory damages in breach of contract 82, 83

  • Condorcet, Marquis de 49 (n. 6)

  • Condorcet winner 48 (n. 5), 73, 945 (n. 11), 96

    • see also Condorcet, Marquis de Constitution 50

  • Consumer Finance Protection Bureau 220

  • contract

    • efficient breach of 3

  • contract law as games 8793

    • battle of the sexes in battle over mailbox v. receipt rule 89

  • see also mailbox rule; receipt rule

  • contract law in ancient Rome 128

  • contract law in Biblical Israel 128

  • contracts, economic analysis of 7983

    • efficiency of certainty of reciprocal commitment 80

    • efficient breach 812

  • contractual choice of law 527

    • costs of contractual exit 56

    • gambling hypothetical 53

    • medical marijuana hypothetical 53

  • contractual exit, costs of see contractual choice of law

  • Cooter, Robert D. 26, 223

  • court fees in England

    • awarded to judges, not treasury 1312

    • parliamentary act to direct fees to treasury, 1799 132

  • couverture 1334

  • crime and criminal law 2830, 3840

    • as example of normative analysis 2630

    • as necessary to enforce the General Transaction Structure 39

    • criminal law in early modern England 128

    • critical legal studies (CLS) 4, 9

    • critical race theory 9

    • critiques of behavioral law and economics (BLE) 22538

  • BLE as a normal science 2267

  • economists’ criticisms 22831

  • evolutionary biology and BLE 234

  • laboratory experiments v. market behavior 23031

  • lawyers’ criticisms of BLE 2318

    • market experience and BLE 230

    • moral hazard, regulation, and BLE 236

    • philosophers’ criticisms 2389 cycling game in contract negotiations 83

  • cycling in default rules 92

  • cycling in majority voting 48

  • cycling in voting on the Supreme Court 67

  • p. 279Damaska, Mirjan 187

  • Darley, John 2245

  • David, René 186

  • Davies v. Mann 245 (n. 13)

  • day-in-the-life video 221

  • De Soto, Hernando 30

  • Deal, Robert 142

  • death penalty deterrence 132

  • decoupled liability rules 25 (n. 15)

  • default rules 80, 20812

    • as a clear starting point for negotiation 9091

    • not to donate 210

    • opt-in v. opt-out 21011

    • presumed consent to donate 210

  • default rules in contract

    • alternative explanation 91 (n. 27)

  • deformation professionelle 268

  • Demsetz, Harold, on emergence of

    • property rights 1278

  • deterrent effect of capital punishment

    • see empirical evidence in law

  • Diener, Ed 21213

  • difference-in-difference regressions in legal history 132

  • differential equations in evolutionary dynamics 160

  • diffusion

    • contagion 160

    • of adoption of hybrid corn 161

    • of disease through a population 161

    • social influence 160

    • social learning 160

  • dimensionality 856, 99

    • as choice between coordination and policy 90

    • lack of dimensionality in tort law 946

  • discontinuity-based empirical study 223

  • discretion of English plaintiffs as to jurisdictional choice 132

  • divination 2445

  • Donohue, John 132, 257

  • dormant Commerce Clause 50, 51, 60 driving game 49

    • and dormant Commerce Clause 60 Dunn, Elizabeth 21314

  • duration neglect and criminal deterrence 225

  • Dworkin, Ronald 108, 112, 114 dynamic evolutionary game theory 1659

    • “folk theorem” of 168

    • movement from unstable to stable equilibria 168

  • easement 978

    • implied easements as a coordination issue 97

  • Easterbrook, Frank H. 8 (n. 12)

  • economic analysis of law 2130

    • cf. law and economics

    • of tort law 226

  • economic growth and legal systems 18083

    • Doing Business reports 196

    • see also LLSV

  • Edwards, Harry T. 4 (n. 8)

  • efficiency

    • allocative efficiency 2

    • Kaldor-Hicks efficiency 2, 20

    • Kaplow and Shavell on efficiency as a central legal norm 14, 19

    • Pareto efficiency 2

    • productive efficiency 2

  • efficiency of the common law see common law

  • Ehrlich, Isaac 257

  • Einstein, Albert 244

  • Ellickson, Robert 12, 1412

    • criticisms of whaling study 142

  • empirical evidence in law

    • achieving literacy in reading 264

    • costs of 2613

    • data collection 263

    • deterrence effect of capital punishment 2568

    • history of 25051

    • on takings of private property 2535

    • value of interdisciplinary faculty in doing 260

  • Engerman, Stanley 11213

  • Esmein, Adhémar 185

  • evidence-based medicine 250

  • evolutionary dynamics

    • AIDS research as an example 154

    • analysis of law 17075

    • p. 280cancer treatment as example 154

    • defined 153

    • drugs and pathogens 174

    • evolution of the economic loss rule 176

    • financial regulation 173

    • NASDAQ price increments 1712

    • networks of risk in financial regulation 154

    • payday lenders and regulators 174

    • primer 15660

    • public health policies as example 154

    • residential segregation as an example 155

    • telecommunications as an example 155

  • evolutionary economics 156

  • export tax doctrine 5761

  • expressive law and economics 1213

  • feminist law and economics 1314 filibuster 46

  • financial literacy software and courses, effectiveness of 21920

  • First Fundamental Theorem of Welfare Economics 32 (n. 30), 120

  • Fisher, R.A. 156

  • fitness strategies 166, 1678

  • Fogel, Robert 11213

  • Fortescue, Sir John 179

  • framing or framing effect 2078

    • in public health 207

  • Fundação Getulio Vargas Law, School, São Paulo, Brazil 10

  • game theory 1, 13, 4951, 756

    • see also prisoners’ dilemma; driving game; battle of the sexes; and chicken

  • game theory in analysis of common law 8599

  • Garoupa, Nuno 10

  • General Transaction Structure 348 Generous Tit-for-Tat (GTFT) game strategy 167

    • see also dynamic evolutionary game theory

  • Gilbert, Daniel 213

  • Gilmore, Gary 65

    • mother of 65

  • Gilmore, Grant 3

  • Gilmore v. Utah 65

  • Ginsburg, Douglas 238 (n. 41)

  • Ginsburg, Tom 12

  • Glasson, Ernest 184

  • Glorious Revolution of 1688, economic effects of 1345

  • Goldin, Jacob 215 (n. 11)

  • Goldstein, Daniel 211

  • Google 244

  • Gordley, James 187

  • Gordon, Robert 1456

    • “Critical Legal Histories” 145

    • criticisms of evolutionary functionalism 145

    • criticisms of Gordon by Acemoglu and Robinson 146

  • Grady, Mark 256

  • Granovetter, Mark 157

  • graph theory 1645

  • Grief, Avner 138

    • study of Maghribi traders and medieval trade 143

  • Guinnane, Timothy 137

  • Guzman, Andrew 11

  • Hadfield, Gillian 13

  • Hadley v. Baxendale 27 (n. 20)

  • Haldane, Andrew 173

  • Haldane, J.B.S. 156

  • Hand, Judge Learned 23

  • Hand test 23, 84

    • see also U.S. v. Carroll Towing Co.

  • Hansen, Zeynep K. 130 happiness 109

    • set point of 213

  • Harris, Ron 123, 137, 140

    • Bubble Act of 1720 140

    • general incorporation 140

  • hedonic treadmill 214

  • Hegel on criminal deterrence 1078

  • heuristics 161

  • Higgs boson 2467 (n. 6)

  • Hill, Thomas 104

  • Holmes, Oliver Wendell 1819

    • “bad man” theory 19

    • prediction theory of law 19

  • Homestead Acts

    • inefficiency of 130

    • possible efficiency of 130 (n. 3)

  • p. 281Hume, David 36

  • Hurst, J. Willard 143

  • hyperbolic discounting 216, 232 (n. 31)

  • hysteresis see lock-in effect

  • Illinois Department of Financial and Profession Regulation 21819

  • importance of empirical evidence in innovation 5 (n. 9)

  • Impossibility Theorem 48

  • inalienability 115

  • incarceration and crime 224

  • incentives 18

  • incommensurability 115

  • individual preferences

    • endogenous, not exogenous 209

  • information disclosure 21920

    • see also mandated disclosure information processing 1613

    • see also Simon, Herbert

  • Institute for Genomic Biology,

    • University of Illinois 7 (n. 11)

  • interest group theory 457

    • defined 44

    • see also public choice

  • International Congress on Comparative Law (Paris 1900) 1845

  • Inter-University Consortium for Political and Social Research, University of Michigan 265

  • Johnson, Eric 211

  • Jones, Owen 15, 234

  • judicial review 46

  • jurisdictional competition 534

  • justice and rights 11012

  • Kahneman, Daniel 204, 207, 225

  • Kaldor-Hicks efficiency 74 (n. 2)

    • see also efficiency

  • Kant, Immanuel 115

    • dignity destroyed by prices 11516

    • intrinsic value and dignity 11516

  • Kantian theory of human decision-making 104

    • cf. to rational choice theory (economic theory of human decision-making)

  • Kaplow, Louis 2 (n. 2), 14

  • Kennedy, Anthony 67

  • Kenny, Lawrence 1323

  • Klass, Gregory 3

  • Klerman, Daniel 9, 131, 135, 137,

  • 1445

  • Klick, Jon 2346

  • Kolber, Adam J. 15 (n. 28)

  • Korobkin, Russell B. 212, 231

  • Korsgaard, Christine 1046

  • Kötz, Hein 186, 187, 189

  • Kronman, Anthony 11617

  • Krugman, Paul 163

  • Kuhn, Thomas 2267

  • Kuran, Timur 141

  • Lamoreaux, Naomi 137

  • law and economics 3040

    • cf. economic analysis of law defined and distinguished from economic analysis of law 30

  • law-and-society 12

  • law as a dependent variable see legal history

  • law as an independent variable see legal history

  • law as a substitute for market exchange 33

  • law merchant 143

  • Lawless, Robert 258, 259, 271, 272, 274

  • Lee, David 223

  • legal centralism 1412

  • legal centrism 1213

  • legal families 1838

    • law and economics of 19095

  • legal history

    • bidirectional histories 126

    • law as a dependent variable 126

    • law as an independent variable 126

    • litigation and contracts 126

    • private ordering 126

  • legal origins 18083

    • critiques of 18890

    • see also legal families; LLSV

  • LeRoy Fibre Co. v. Chicago, Milwaukee & St. Paul Ry. 26 (n. 18)

  • Leuck, Dean 138

  • Levitt, Steven 132, 23031

  • p. 282Levy-Ullman, Henri 185

  • liability rules 324

    • as legal (forced) exchange 33

    • see also Calabresi and Melamed

  • Libecap, Gary 130

  • Lincoln, Abraham 246

  • Lindgren, James 270

  • List, John 229

  • litigation and contracts see legal history

  • Litvak, Katherine 123

  • LLSV 137, 18082, 196

  • LLSV (Rafael La Porta, Florencio Lopez-de-Silanes, Andre Shleifer, and Robert Vishny) 10 (n. 14)

  • Locke, John 110

  • lock-in effect 10

  • lost keys 273

  • Lott, John 1323

  • Lujan v. Defenders of Wildlife 63 Lusardi, Annamaria 217

  • Macey, Jonathan 131

  • Madison, James 46

  • Maghribi traders 143

    • see also Grief, Avner

  • Mahoney, Paul 123, 131, 135, 137

  • mailbox rule in contract law 87

    • cf. receipt rule

    • default rule in US 88

  • mandated disclosure 21920

  • mandatory rules 80

  • many biases problem 237

  • market analysis 1

  • market imperfections 2

  • fraud 204

    • misinformation 204

    • policy correctives for 2

    • sources of market failure 204

  • Markov Chain Monte Carlo Sampling (MCMC) 170

  • Markovits, Dan 3

  • Marshall, Alfred 156

  • Marshall, John 58, 59

  • May, Robert 173

  • McAdams, Richard H. 13, 274

  • McCrary, Justin 223

  • McFadden, Daniel 225

  • McGinnis, Megan 8

  • M’Culloch v. Maryland 58

  • medieval commercial law see law merchant

  • Medina, Barak 215

  • Merryman, John 187

  • Miceli, Thomas 7

  • Miller, Geoffrey 131

  • Miller, Grant 133

  • Millimet, David 229

  • Mitchell, Gregory 2346

  • Mitchell, Olivia 217

  • mixed strategy equilibrium 87

    • cf. pure strategy equilibrium

  • model of precaution 268

    • as unifying torts, contracts, and property law 267

    • in contract law 27

  • Montana severance tax, cconstitutionality of 5761

    • see also Commonwealth Edison v. Montana

  • multiple regression, criticisms of 2669

  • multiple selves 233

  • myopia 216

  • Nagel, Ernest 118

  • Nagel, Thomas 112

  • Nash equilibrium 73, 86

  • Nash, John 86

  • National Organ Transplantation Act of 1984 210

  • Neal, Larry 124

  • negligence 226

    • contributory negligence 245 (n. 13)

    • defined as nonfeasance 22

    • Posner theory of negligence 23

    • threshold of behavior 24

  • network analysis 164

    • compelled access to telecommunications as example 1645

  • neuroscience 1415

  • Nisbett, Richard E. 266

  • Nodle, Boris 186

  • normal science 226

  • normative analysis 21

  • norms 12

    • norm entrepreneurs 13

  • p. 283North, Douglass 124. 1345, 136

    • on importance of institutional structure 128

  • Nowak, Martin 167

  • nudges 20812

  • Oandasan, Robert 136

  • observational equivalence 237

  • O’Connor, Sandra Day 67

  • Oliveira, Candido Luiz Maria de 186

  • Orentlicher, David 210

  • organ transplantation 14

    • and default rules 21012

    • comparison of US and European donation 211

  • Ostrom, Elinor 156

  • paradigm 226

  • paradox of compensation 25

  • Pareto efficiency 734, 109

    • see also efficiency

  • Pareto optimality 112, 120

  • Pareto, Vilfredo 734 (n. 2)

  • Pargendler, Mariana 10

  • Parsons, Talcott 157

  • paternalism 209

  • path dependence 1634

    • industry clustering as an example 163

    • VHS v. Betamax 163

  • payday lenders 153

  • Peevyhouse v. Garland Coal & Mining Co. 37

  • permanent income hypothesis 215 physical exit 56

    • see also contractual exit; regulatory exit

  • Pigou, Arthur C. 2

  • Pigouvian tax 24, 789

    • problems with Pigouvian taxes 79

  • Pike Creek Claimant’s Union 143 Pildes, Richard 215 Pirsig, Robert 244

  • Planck, Max 5 (n. 9)

  • Polinsky, A. Mitchell 28

    • see also BPS model of crime positive analysis 21

  • positivists (Kelsen, Hart, Raz) 108

    • cf. anti-positivist

  • Posner, Richard A. 19, 22, 112, 124, 232

    • efficiency in the common law 1278

  • Powell, Lewis 67

  • practical rationality 103, 104

  • prediction theory of law see Holmes

  • presentment (the executive veto) 46

  • Price, George 165

  • price theory 1

  • Priest, Claire 139, 144

  • prisoners’ dilemma 49

    • and dormant Commerce Clause 60

  • private lighthouses 143

  • private ordering 1413

    • see also whaling; Ellickson

  • productive efficiency see efficiency

  • property and contract law in imperial Japan 128

  • property law, economic analysis of 779

    • efficiency of right to exclude 80

  • property rights in post-plague England 128

  • property rights in the American West 128

  • property rules 324

    • cf. liability rules

    • see also Calabresi and Melamed

  • public choice, defined 44

  • public good 78

  • pure strategy equilibrium 87

    • cf. mixed strategy equilibrium

  • Ramseyer, Mark 144, 145

  • randomized controlled trials 267

  • rational choice theory and rationality 1, 204, 205

    • and random behavior 162

    • axiom of 18

    • deviations from predictions of 204ff

    • technical assumptions: transitivity, invariance, completeness 204

  • Rawls, John 103, 110

  • Raz, Joseph 1089, 116

  • real covenants 98

    • touch and concern doctrine 989

  • p. 284receipt rule in contract 87

    • cf. mailbox rule

    • default rule in Germany 88

  • regulatory cat-and-mouse with those regulated 153

  • regulatory exit 56

    • see also contractual exit; physical exit rent

    • defined 46

    • rent seeking 46

  • rent-dissipating game in contract negotiations 83

  • replicator dynamics 166

  • reproduction 158

  • research journal, importance of 271, 272

  • respondeat superior 96

  • retirement saving 21518

  • Richardson, Gary 1356

  • Robbennolt, Jennifer 258, 271, 272, 274

  • Robinson, James 131, 146

  • Robinson, Paul 2245

  • Roithmayr, Daria 9

  • Rosenthal, Jean-Laurent 137

  • Rubin, Paul, on evolutionary theory of common law development 129

    • criticisms of Rubin’s theory 129

  • Samuelson, Paul 8

  • Sarbanes-Oxley Act 123

  • Sauser-Hall, Georges 185

  • Save More Tomorrow 21415

  • Schelling, Thomas 155, 156, 203

    • model of residential segregation 155

  • Schneider, Carl 219

  • Schumpeter, Joseph 156

  • Schwartz, Alan 3, 2378

  • scientific method 247

  • Scott, Robert C. 3

  • Second Fundamental Theorem of Welfare Economics 120

  • Securities Act of 1933 123, 131

  • securities regulation 131

  • selection effect in empirical evidence 256 (n. 28)

  • selection in evolution 158

  • Seligman, Martin 21213

  • Shaffer, Greg 12

  • Shapiro, Jesse 223

  • shared or pooled resources as source of inefficiency 78

    • see also tragedy of the commons

  • Shavell, Steven 14, 28

    • see also BPS model of crime

  • Shen, Francis X. 15 (n. 28)

  • Sigmund, Karl 167

  • Simon, Herbert 157, 161

  • slavery and efficiency 114

  • slaves, free market in, and Pareto optimality 11213

  • Smith, Adam 156

  • Smith, Henry, on open fields 127

  • Smith, John Maynard 165 Snow, Dr. John 2489 (n. 10)

  • social and cognitive psychology 204

  • social choice theory 479

    • in analysis of common law 8599

  • social norms 1213

  • social utility function 8

  • Society for the Evolutionary Analysis of Law (SEAL) 15

  • Spamann, Holger 137

  • specific performance (as contract remedy) 82

  • Spector, Horacio 8

  • Spulber, Daniel 165

  • Spur Industries v. Del W. Webb Development Co. 37

  • standing 619

    • history of Supreme Court holdings on 623

    • “no right to an undistorted market” 62

    • presumptive barrier against diffuse-harm standing 65

  • Stapel, Diederik 27071

  • stare decisis as a cycle-breaking rule 67

  • Stasavage, David 1345

  • Stearns, Max 8

  • Stewart, Potter 67

  • Stigler, George

    • interest-group theory of regulation 128

  • strict liability 245

    • as a moral hazard problem for victims 24

    • see also tort, economic analysis of

  • subjective value 38

  • p. 285Sunstein, Cass R. 2089

  • Sussman, Nathan 1345

  • System I thinking 235 (n. 35)

  • System II thinking 235 (n. 35)

  • Tarde, Gabriel 185

  • tax-shelter promoters 153

  • Taylor, Charles 119

  • Telecommunications Act of 1996 164

  • Texas A&M University School of Law 10

  • Thaler, Richard 215, 2089, 228

  • Tiebout, Charles 53

    • see also jurisdictional competition

  • Tit-for-Tat (TFT) game strategy 167

    • see also dynamic evolutionary game theory

  • tort, economic analysis of 845

    • as single dimension choice 946

    • distinguished from contract 84

    • economics of no liability 84

    • negligence liability 84

    • strict liability 84

  • tragedy of the commons 78

  • transaction costs 2, 32, 33

  • Tversky, Amos 204, 207

  • Ulen, Thomas S. 102, 213, 223, 231, 27, 272

  • Uniform Anatomical Gift Act (UAGA) of 1987 212

    • Revised 2006 212

  • Uniform Commercial Code, Article 2 79 (n. 11), 80 (n. 12)

  • unilateral care model 24

    • see also bilateral care model

  • unitary resource ownership, efficiency of 78

  • Universidad Torcuato Di Tella 8

  • University of California-Davis 64

  • University of California at Irvine School of Law 12

  • University of Chicago Law School 12

  • University of Illinois College of Law 9, 10, 12

  • University of Maryland Francis Carey School of Law 8

  • University of San Diego School of Law 8

  • University of Southern California Gould School of Law 9, 1112

  • US v. Carroll Towing Co. 23

    • see also Hand test

  • value monism and pluralism 11618

  • Vanderbilt University School of Law 15

  • variation 1578

  • Veblen, Thorsten 156

  • veto gates 46

  • vicarious liability 96

  • Volcker Rule 173

  • Wahl, Jenny Bourne, on judge-made law governing slavery 128

  • Wallis, John 136

  • Watson, Gary 106

  • Watson, Timothy 2114

  • weakness of will (akrasia) 233

  • wealth 109

  • wealth maximization see Kaldor-Hicks efficiency

  • Weber, Max 157

  • Weingast, Barry 1345, 136

  • Weinstein, Mark 137

  • whaling industry 1412

    • fast-fish, loose-fish rule 142

    • iron-holds-the whale rule 142

    • see also private ordering

  • willingness to accept 38

  • willingness to pay 38

  • Willis, Lauren 219

  • Wolfers, Justin 132, 257

  • Wolff, Martin 186

  • women’s control of their earnings and property 1323

    • see also couverture

  • women’s right to vote and government spending 1323

  • Wright, Joshua D. 238 (n. 41)

  • Wright, Sewall 156

  • writing well 1516

  • Yafeh, Yishay 1345

  • Yoo, Christopher 165

  • Young, Peyton 160