A Law and Econ Reading List

As a follow-up to Caleb’s Org Econ reading list, here’s what I’d assign to graduate students in Law and Econ.

THE ECONOMIC APPROACH TO HUMAN BEHAVIOR AND THE LAW

Alchian, A. A. (1950). Uncertainty, evolution, and economic theory. Journal of Political Economy, 58(3), 211-221.

Stigler, G. J., & Becker, G. S. (1977). De gustibus non est disputandum. The American Economic Review, 67(2), 76-90.

Becker, G. S. (1993). The economic way of looking at behavior. Journal of Political Economy, 101(3), 385-409.

Barzel, Y. (1997), The Economic Analysis of Property Rights. Cambridge University Press. Chapter 1: The Property Rights Model, pp. 3-15.

THE COASE THEOREM

Coase, R. H. (1960). The Problem of Social Cost. Journal of Law and Economics, 3(1).

Barzel, Y. (1977). Some fallacies in the interpretation of information costs. The Journal of Law and Economics, 20(2), 291-307.

Allen, Douglas W. (1991). What are Transaction Costs? Research in Law and Economics, 14, 1-18.

Stigler, G. J. (1992). Law or economics?. The Journal of Law and Economics, 35(2), 455-468.

PROPERTY

THE PUBLIC DOMAIN AND THE COMMONS

Cheung, S. N. (1970). The structure of a contract and the theory of a non-exclusive resource. The Journal of Law and Economics, 13(1), 49-70.

Johnson, R. N., & Libecap, G. D. (1982). Contracting problems and regulation: the case of the fishery. The American Economic Review, 72(5), 1005-1022.

Lueck, D. (1994). Common property as an egalitarian share contract. Journal of Economic Behavior & Organization, 25(1), 93-108.

Barzel, Y. (1997), The Economic Analysis of Property Rights. Cambridge University Press. Chapter 2: The Public Domain, pp. 16-32.

PRIVATE PROPERTY

Umbeck, J. (1977). A theory of contract choice and the California gold rush. The Journal of Law and Economics, 20(2), 421-437.

Ellickson, R. C. (1989). A hypothesis of wealth-maximizing norms: Evidence from the whaling industry. JL Econ. & Org., 5, 83-97.

Lueck, D. (1995). The rule of first possession and the design of the law. The Journal of Law and Economics, 38(2), 393-436.

Barzel, Y. (1997), The Economic Analysis of Property Rights. Cambridge University Press. Chapter 4: Divided Ownership, pp. 55-64.

Libecap, G. D., & Lueck, D. (2011). The demarcation of land and the role of coordinating property institutions. Journal of Political Economy, 119(3), 426-467.

CONSTRAINTS ON PROPERTY RIGHTS

Barzel, Y. (1997), The Economic Analysis of Property Rights. Cambridge University Press. Chapter 8: Wealth Maximizing Constraints on Property Rights, pp. 55-64.

Andolfatto, D. (2002). A theory of inalienable property rights. Journal of Political Economy, 110(2), 382-393.

Allen, D. W. (2002). The rhino’s horn: incomplete property rights and the optimal value of an asset. The Journal of Legal Studies, 31(S2), S339-S358.

Fleck, R. K. (2014). Can prohibitions on price gouging reduce deadweight losses?. International Review of Law and Economics, 37, 100-107.

CONTRACTS

THE FIRM

Alchian, A. A., & Demsetz, H. (1972). Production, information costs, and economic organization. The American Economic Review, 62(5), 777-795.

Barzel, Y. (1997), The Economic Analysis of Property Rights. Cambridge University Press. Chapter 5: The Old Firm and the New Organization, pp. 65-84.

Holmstrom, B. (1999). The firm as a subeconomy. Journal of Law, Economics, and Organization, 15(1), 74-102.

Baker, G. P., & Hubbard, T. N. (2004). Contractibility and asset ownership: On-board computers and governance in US trucking. The Quarterly Journal of Economics, 119(4), 1443-1479.

CONTRACT CHOICE

Cheung, S. N. (1983). The contractual nature of the firm. The Journal of Law and Economics, 26(1), 1-21.

Goldin, C. (1986). Monitoring costs and occupational segregation by sex: a historical analysis. Journal of Labor Economics, 4(1), 1-27.

Leffler, K. B., & Rucker, R. R. (1991). Transactions costs and the efficient organization of production: a study of timber-harvesting contracts. Journal of Political Economy, 99(5), 1060-1087.

Allen, D., & Lueck, D. (1992). Contract choice in modern agriculture: cash rent versus cropshare. The Journal of Law and Economics, 35(2), 397-426.

Allen, D. W., & Borchers, A. (2016). Conservation practices and the growth of US cash rent leases. Journal of Agricultural Economics, 67(2), 491-509.

FAMILY LAW

Posner, R. A. (1980). A theory of primitive society, with special reference to law. The Journal of Law and Economics, 23(1), 1-53.

Allen, D. W. (1990). An inquiry into the state’s role in marriage. Journal of Economic Behavior & Organization, 13(2), 171-191.

Botticini, M., & Siow, A. (2003). Why dowries?. American Economic Review, 93(4), 1385-1398.

Geddes, R., Lueck, D., & Tennyson, S. (2012). Human capital accumulation and the expansion of women’s economic rights. The Journal of Law and Economics, 55(4), 839-867.

Leeson, P. T., & Pierson, J. (2016). Prenups. The Journal of Legal Studies, 45(2), 367-400.

TORTS

Epstein, R. A. (1973). A theory of strict liability. The Journal of Legal Studies, 2(1), 151-204.

Posner, R. A. (1973). Strict liability: A comment. The Journal of Legal Studies, 2(1), 205-221.

Landes, W. M., & Posner, R. A. (1980). Joint and multiple tortfeasors: An economic analysis. The Journal of Legal Studies, 9(3), 517-555.

Lott Jr, J. R. (1987). Should the wealthy be able to buy justice?. Journal of Political Economy, 95(6), 1307-1316.

Brooks, R. R. (2002). Liability and organizational choice. The Journal of Law and Economics, 45(1), 91-125.

CRIME AND PUNISHMENT

Becker, G. S. (1968). Crime and Punishment: An Economic Approach. Journal of Political Economy, 76(2), 169-217.

Lott, Jr, J. R., & Mustard, D. B. (1997). Crime, deterrence, and right-to-carry concealed handguns. The Journal of Legal Studies, 26(1), 1-68.

Klick, J., & Tabarrok, A. (2005). Using terror alert levels to estimate the effect of police on crime. The Journal of Law and Economics, 48(1), 267-279.

Allen, D. W., & Barzel, Y. (2011). The evolution of criminal law and police during the pre-modern era. The Journal of Law, Economics, & Organization, 27(3), 540-567.

ADJUDICATION AND ENFORCEMENT

COURTS

Tullock, G. (1975). On The Efficient Organization Of Trials. Kyklos, 28(4), 745-762.

Posner, R. A. (1993). What do judges and justices maximize? (The same thing everybody else does). Supreme Court Economic Review, 3, 1-41.

Glaeser, E., Johnson, S., & Shleifer, A. (2001). Coase versus the Coasians. The Quarterly Journal of Economics, 116(3), 853-899.

Leeson, P. T. (2012). Ordeals. The Journal of Law and Economics, 55(3), 691-714.

PRIVATE ENFORCEMENT

Becker, G. S., & Stigler, G. J. (1974). Law enforcement, malfeasance, and compensation of enforcers. The Journal of Legal Studies, 3(1), 1-18.

Klein, B., & Leffler, K. B. (1981). The role of market forces in assuring contractual performance. Journal of Political Economy, 89(4), 615-641.

Friedman, D. (1984). Efficient institutions for the private enforcement of law. The Journal of Legal Studies, 13(2), 379-397.

MacLeod, W. B. (2007). Reputations, relationships, and contract enforcement. Journal of Economic Literature, 45(3), 595-628.

Leeson, P. T. (2009). The laws of lawlessness. The Journal of Legal Studies, 38(2), 471-503.

NORMS

Ellickson, R. C. (1985). Of Coase and cattle: Dispute resolution among neighbors in Shasta County. Stan. L. Rev., 38, 623-687.

Posner, R. A. (1997). Social norms and the law: An economic approach. The American economic review, 87(2), 365-369.

Posner, R. A., & Rasmusen, E. B. (1999). Creating and enforcing norms, with special reference to sanctions. International Review of Law and Economics, 19(3), 369-382.

Allen, D. W., & Lueck, D. (2009). Customs and incentives in contracts. American Journal of Agricultural Economics, 91(4), 880-894.

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