New approach to law and economics promises better legal scholarship.
Law and economics research can be controversial, with some scholars liking it and others not. The author argues that using the right type of economics can make a big difference. Neoclassical economics, popularized by the Chicago school, can create problems, but New Institutional Economics fits well with legal methods. By adding comparative law to the mix, a new approach called Comparative Institutional Law and Economics can provide a better way to explain things.