I am pleased to recommend the new book — Economics for Lawyers — by my colleague Richard Ippolito. Are you looking for a work that will explain the concepts of moral hazard, adverse selection, the Coase Theorem, externalities, and other widely used concepts? This is the place to go. The very careful 415 pages of text cover the major ideas behind law and economics. The book uses graphs but no calculus. The exercises and questions are very useful. Each chapter starts with a list of new concepts to be presented. This is more of a text than Posner’s Economic Analysis of the Law, more systematic, and more objective. The two are complements rather than substitutes. Highly recommended.
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