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Title: Game Theory and the Law by Douglas G. Baird, Robert H. Gertner, Randal C. Picker ISBN: 0-674-34111-2 Publisher: Harvard Univ Pr Pub. Date: September, 1998 Format: Paperback Volumes: 1 List Price(USD): $28.95 |
Average Customer Rating: 4.5 (4 reviews)
Rating: 4
Summary: Great analysis of common strategic behavior problems
Comment: This is a great example of how the rigor of game theory can give startling insights into outcomes of common situations. Although I'm no mathematician or economist, all business people are at some point required to base their decisions on how they think others will behave. This book provides some great frameworks for structuring that thought process.
Rating: 5
Summary: Unique
Comment: Altough it's often just theory, is a unique book, rxpressing the Chicago school's view on law. Do not expect something you can use practically.
Rating: 4
Summary: good treatment
Comment: This book is a solid introduction both to game theory and its application in legal analysis. It does a nice job of serving two audiences: lawyers who want to see some game theory and how it can illuminate analysis of things like liability regimes, and game theorists/economists/formal political scientists who are interested in a novel application of game theory. (Well, I'm only the second audience, but it seems like the first would be well served also.)
The book is very verbal. I believe there are two equations in it, in all (but many game matrices). So for legal scholars it can be a useful introduction to what game theory has to say, but it can't give much guidance on how to build a model. Given the importance of spreading these ideas, the non-technical nature is probably a plus.
The authors deserve credit for covering a lot of ground in game theory, much of it seemingly impossible to understand without the math, with minimal technical investment. Most basic topics that might be covered in a graduate course for economists are treated -- at an intuitive level, but one that is very understandable.
A couple drawbacks come to mind. First, the authors do not stress enough the knowledge assumptions behind Nash equilibrium. Moreover, there is not enough discussion of solution concepts, like correlated equilibrium, that subsume wide possibilities of communication or even implicit contract signing, which seems important, given the nature of the book.
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Title: Behavioral Law and Economics by Cass R. Sunstein ISBN: 0521667437 Publisher: Cambridge University Press Pub. Date: 28 March, 2000 List Price(USD): $30.00 |
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Title: Economics and the Law by Steven G. Medema, Nicholas Mercuro ISBN: 0691005443 Publisher: Princeton Univ Pr Pub. Date: 21 December, 1998 List Price(USD): $26.95 |
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Title: Economic Analysis of Law by Richard A. Posner ISBN: 0735534748 Publisher: Aspen Publishers, Inc. Pub. Date: December, 2002 List Price(USD): $83.00 |
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Title: The Firm, the Market, and the Law by Ronald H. Coase ISBN: 0226111016 Publisher: University of Chicago Press Pub. Date: February, 1990 List Price(USD): $20.00 |
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Title: An Introduction to Law and Economics by A. Mitchell Polinsky ISBN: 073553473X Publisher: Aspen Publishers, Inc. Pub. Date: June, 2003 List Price(USD): $34.95 |
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