Foundations of Law and Economics
Introductory
Positive and Normative Analysis
Positive analysis explains or predicts legal rules and behavior, while normative analysis evaluates which legal rules or institutions should be adopted under specified criteria.
Why It Matters
The distinction helps readers separate descriptive claims about how law affects incentives from evaluative claims about efficiency, welfare, distribution, legitimacy, or institutional design.
Selected Literature
A short list of directly relevant archive entries.
1973
Advanced
2001
Advanced
2004
Advanced
2016
Advanced
Related Cases
1707
Foundations of Law and Economics
Keeble v. Hickeringill
11 East 574, 103 Eng. Rep. 1127 (K.B. 1707)
Property protection, malicious interference, and incentives to make productive use of land.
1805
Foundations of Law and Economics
Pierson v. Post
3 Cai. R. 175 (N.Y. Sup. Ct. 1805)
First possession, capture rules, and the administrability of property rights in wild animals.
1854
Foundations of Law and Economics
Hadley v. Baxendale
9 Exch. 341, 156 Eng. Rep. 145 (1854)
Foreseeability, information disclosure, and limits on consequential damages for breach of contract.
1879
Foundations of Law and Economics
Sturges v. Bridgman
11 Ch. D. 852 (1879)
Nuisance, coming to the nuisance, and reciprocal conflicts over incompatible land uses.