UPC: 9781840646115 | New Horizons in the Economics of Innovation: Economic Efficiency in Law and Economics (Book)
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UPC lookup results for: 9781840646115 | New Horizons in the Economics of Innovation: Economic Efficiency in Law and Economics (Book)
In this text Zerbe introduces a way to think about the concept of economic efficiency that is both consistent with its historical derivation and more useful than contemporary concepts. He establishes an expanded version of Kaldor-Hicks efficiency as an axiomatic system that performs the tasks of: allowing an expanded range for efficiency analysis; and estabilshing the conditions under which economists can reasonably say that some state of the world is inefficient. He then applies the analysis to a number of hard and interesting cases including the economics of duelling cannibalism and rape. He develops a theory of common law efficiency and indicates the circumstances under which a common law will be inefficient.
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