The Limitation of Economic Analysis of Law--From the Perspective of the Nature and End of Law
type: CreativeWork
description: The object of this study is to explore the limitation of economic analysis of law. This study argues that the application of economic approach to law should be limited to two kinds of rules: "substantive economic rules" and "pure procedural rules." The former rules deal with a voluntary transaction whose goal is to pursue economic interest and its exchange object is calculable by monetary amount. The latter rules regulate behavior which merely serves as a tool for attaining another non-moral goal. Except these two kinds of rules, the rest of rules should be excluded from economic analysis since their goals are either to protect social justice or social norms rather than to pursue economic efficiency, and economic analysis is unable to yield an answer as to the economic efficiency of these other rules ...
abstract: The object of this study is to explore the limitation of economic analysis of law. This study argues that the application of economic approach to law should be limited to two kinds of rules: "substantive economic rules" and "pure procedural rules." The former rules deal with a voluntary transaction whose goal is to pursue economic interest and its exchange object is calculable by monetary amount. The latter rules regulate behavior which merely serves as a tool for attaining another non-moral goal. Except these two kinds of rules, the rest of rules should be excluded from economic analysis since their goals are either to protect social justice or social norms rather than to pursue economic efficiency, and economic analysis is unable to yield an answer as to the economic efficiency of these other rules ...
author: Hsu, Hui Feng
language: English
keywords: Law and Economics
date published: 2004-08-19T07:00:00Z
date modified: 2026-07-24T06:12:08Z
provider: Washington University in St. Louis
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: Washington University in St. Louis

PropertyValue
property ID: DOI
value: 10.7936/0gvv-xp58