Category: Foundations of Law

Introduction Markets thrive on trust, predictability, and cooperation. For buyers and sellers to transact efficiently, they must be confident that agreements will be honored and disputes resolved fairly. Contract enforcement

Introduction Law is not merely a system of rules that dictates what individuals can or cannot do. It also functions as a sophisticated incentive mechanism that shapes economic behavior, influences

Introduction The Coase Theorem, first articulated by Nobel laureate Ronald Coase in his landmark 1960 paper “The Problem of Social Cost,” remains one of the most influential ideas in law,

Introduction The relationship between property rights and economic growth has long been a central theme in economics, political science, and development studies. Secure property rights are often cited as a

Introduction Traditional law and economics is built on the assumption of rational actors who consistently make decisions that maximize their utility. This framework has provided powerful insights into how legal