The Economic Analysis of Civil Law

This comprehensive and established book - first published in German - explains the new approach of law and economics to civil law. Written by two of Europe's leading scholars in the field, it provides a thorough yet accessible economic analysis of tort law, contract law and property law, with particular emphasis placed on legal cases and doctrines from civil law. The authors first review the basic concepts of both normative and positive economics and their links to institutional economics. They move on to develop the economic rationales of tort law and examine the different concepts involved. They also investigate contracts, especially sales contracts, quasi contracts, and pre-contractual duties which play a prominent role in civil law countries. Finally, they provide a comprehensive overview of the economic functions and legal forms of property law. Throughout, the authors analyse and evaluate the complexities of civil law using economic theory, and clearly demonstrate that the legal forms found in civil law frequently serve the purpose of increasing a nation's wealth. This outstanding volume is the first law and economics textbook that concentrates on civil law. It integrates legal doctrines with economic reasoning, and lucidly explains the concepts involved. It requires no prior knowledge of either economics or law and will undoubtedly become the requisite textbook in the field for all students of law, law and economics and business administration. It will also be of great value to academics and practitioners interested in an overview of this area.