Edited and introduced by a leading academic in the field, this is a new Routledge Major Work in the Critical Concepts in Law series. Law and Economics is a five-volume collection of canonical and cutting-edge research on the application of economic theory - primarily microeconomics and the basic concepts of welfare economics—to the examination of the formation, structure, processes and economic impact of law and legal institutions. Economic concepts have been applied to explain and clarify legal issues, not only with respect to competition law, but also in respect of a wide range of non-market activities, ranging from issues of tortuous liability and compensation, to family matters and crime. Law and Economics has influenced legislation and the development of Anglo-American case law and has become a central part of legal and economic education and research at some of the most prestigious universities on both sides of the Atlantic. This collection provides users with a collection of original articles that represent the source materials upon which each of the various Law and Economics schools of thought are founded—including the Chicago approach and the New Haven School; public-choice theory and modern civic republicanism; institutional law and economics and the new institutional economics; social norms and law and economics; and Austrian law and economics. As well as the editor’s selection of foundational texts, his collection also brings together and makes readily accessible the very best of cutting-edge research in Law and Economics.Including a newly written introduction to each school of thought, a comprehensive index, and a chronological table of the articles, Law and Economics is a unique and valuable research resource for both student and scholar.