Search results
Results from the WOW.Com Content Network
The Journal is the first student-run journal of law and economics in legal academia. [3] The journal is cited widely throughout state and federal courts, including notably in an opinion by D.C. Circuit U.S. federal judge Neomi Rao in District of Columbia v. Exxon Mobil Corp. [4] It also holds symposia regularly on relevant legal challenges. [5]
Questions regarding the well-definedness of a function often arise when the defining equation of a function refers not only to the arguments themselves, but also to elements of the arguments, serving as representatives. This is sometimes unavoidable when the arguments are cosets and when the equation refers to coset representatives. The result ...
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law. The field emerged in the United States during the early 1960s, primarily from the work of scholars from the Chicago school of economics such as Aaron Director , George Stigler , and Ronald Coase .
Relevance, in the common law of evidence, is the tendency of a given item of evidence to prove or disprove one of the legal elements of the case, or to have probative value to make one of the elements of the case likelier or not. Probative is a term used in law to signify "tending to prove". [1] Probative evidence "seeks the truth".
Law and economics is a school of legal thought that focuses on ensuring that legal processes produce the most efficient allocation of resources, rather than giving the enforcement of rights the highest priority. Individuals included under this category are noted for their theories or application of a law and economics perspective.
James Stuart (1767) authored the first book in English with 'political economy' in its title, explaining it just as: . Economy in general [is] the art of providing for all the wants of a family, so the science of political economy seeks to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide everything necessary ...
Walras's law is a principle in general equilibrium theory asserting that budget constraints imply that the values of excess demand (or, conversely, excess market supplies) must sum to zero regardless of whether the prices are general equilibrium prices. That is:
The journal is sponsored by the University of Chicago Law School. The journal was founded by Aaron Director at the University of Chicago in 1958, and Ronald Coase joined him later as the co-editor. [1] [2] The journal played an important role in the formation of the field Law and Economics. [1]