ECON 241 Law and Economics
| ECON 241 Syllabus [Spring 2026) |
Scholarly Articles
Week 2: Economic Efficiency and Utility Theory
Klerman, D. (2007) "Jurisdictional Competition and the Evolution of the Common Law," The University of Chicago Law Review, 74(4):1179-1226.
Trakman, L. (2003) "From the Medieval Law Merchant to E-Merchant Law," The University of Toronto Law Studies, 53(3):265-304.
Paul, E.F. (1978) "J.S. Mill: The Utilitarian Influence in the Demise of Laissez-Faire," Journal of Libertarian Studies, 2(2):135-149.
Week 3: Public Choice and Institutional Economics
Buchanan, J. and R. Tollison. (2009). "Politics Without Romance: A Sketch of Positive Public Choice Theory and Its Normative Implications," University of Michigan Law Review.
Lucas, G. and S. Tasic. (2015). “Behavioral Public Choice and the Law.” West Virginia Law Review, 118:199-266.
Dudley, S. (2018). "Bootleggers & Baptists: The Experience of Another Regulatory Economist," George Washington University Working Paper.
Week 5: Property: Rights and Custom
Demsetz, H. (1967) "Toward a Theory of Property Rights," American Economic Review, 57(2):347-359.
Anderson, T.L. and P.J. Hill. (1975) "The Evolution of Property Rights," Journal of Law and Economics, 18(1):163-179.
Heller, M. (1998). "The Tragedy of the Anti-Commons," Harvard Law Review, 111(3):621-688.
Week 6: Social Costs and Transaction Costs
Coase, R. (1960). "The Problem of Social Cost," Journal of Law and Economics, 3:1-44.
Donohue, J.J. III (1989). "Diverting the Coasian River: Incentive Schemes to Reduce Unemployment Spells," Yale Law Journal, 99(3):549-609.
Stevenson, B. and Wolfers, J. (2006). "Bargaining in the Shadow of the Law: Divorce Laws and Family Distress," Quarterly Journal of Economics, 121(1):267-288.
Week 9: Contracts and Breach
Ellickson, R.C. (1986) "Of Coase and Cattle: Dispute Resolution among Neighbors in Shasta County," Stanford Law Review, 38(3):623-687.
Goetz, C.J. & R.E. Scott. (1980) "Enforcing Promises: An Examination of the Basis of Contract," Yale Law Journal, 89(7):1261-1322.
Week 11: Product Liability and Torts
Calabresi, G. and A. D. Melamed. (1972) "Property Rules, Liability Rules, and Inalienability: One View of the Cathedral," Harvard Law Review, 85(6):1089-1128.
Shavell, S. (1980). "Strict Liability versus Negligence," The Journal of Legal Studies, 9(1):1-25.
Currie, J. and W. Bentley MacLeod. (2008) "First Do No Harm? Tort Reform and Birth Outcomes," Quarterly Journal of Economics, 123(2):795-830.
Week 14: The Economics of Immigration and Mobility
Boubtane, E., J.C. Dumont, and C. Rault. 2016. "Immigration and economic growth in the OECD countries 1986–2006." Oxford Economic Papers, 68(2):340-360.
Sasser, A.C. (2010.) "Voting with their feet: Relative economic conditions and state migration patterns." Regional Science and Urban Economics, 40(2):122-135.
Clemens, M.A. (2011.) "Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?" Journal of Economic Perspectives, 25(3):83-106.
Week 15: The Economics of Crime and Punishment
Becker, G. (1974) "Crime and Punishment: An Economic Approach," Journal of Political Economy, 76(2):169-217.
Klick, J. and Tabarrok, A. (2005) "Using Terror Alert Levels To Estimate the Effect of Police on Crime," Journal of Law and Economics, 48(1):267–79.
Anwar, S., Bayer, P., & Hjalmarsson, R. (2012). “The Impact of Jury Race in Criminal Trials.” The Quarterly Journal of Economics, 127(2):1017-1055.
Klerman, D. (2007) "Jurisdictional Competition and the Evolution of the Common Law," The University of Chicago Law Review, 74(4):1179-1226.
Trakman, L. (2003) "From the Medieval Law Merchant to E-Merchant Law," The University of Toronto Law Studies, 53(3):265-304.
Paul, E.F. (1978) "J.S. Mill: The Utilitarian Influence in the Demise of Laissez-Faire," Journal of Libertarian Studies, 2(2):135-149.
Week 3: Public Choice and Institutional Economics
Buchanan, J. and R. Tollison. (2009). "Politics Without Romance: A Sketch of Positive Public Choice Theory and Its Normative Implications," University of Michigan Law Review.
Lucas, G. and S. Tasic. (2015). “Behavioral Public Choice and the Law.” West Virginia Law Review, 118:199-266.
Dudley, S. (2018). "Bootleggers & Baptists: The Experience of Another Regulatory Economist," George Washington University Working Paper.
Week 5: Property: Rights and Custom
Demsetz, H. (1967) "Toward a Theory of Property Rights," American Economic Review, 57(2):347-359.
Anderson, T.L. and P.J. Hill. (1975) "The Evolution of Property Rights," Journal of Law and Economics, 18(1):163-179.
Heller, M. (1998). "The Tragedy of the Anti-Commons," Harvard Law Review, 111(3):621-688.
Week 6: Social Costs and Transaction Costs
Coase, R. (1960). "The Problem of Social Cost," Journal of Law and Economics, 3:1-44.
Donohue, J.J. III (1989). "Diverting the Coasian River: Incentive Schemes to Reduce Unemployment Spells," Yale Law Journal, 99(3):549-609.
Stevenson, B. and Wolfers, J. (2006). "Bargaining in the Shadow of the Law: Divorce Laws and Family Distress," Quarterly Journal of Economics, 121(1):267-288.
Week 9: Contracts and Breach
Ellickson, R.C. (1986) "Of Coase and Cattle: Dispute Resolution among Neighbors in Shasta County," Stanford Law Review, 38(3):623-687.
Goetz, C.J. & R.E. Scott. (1980) "Enforcing Promises: An Examination of the Basis of Contract," Yale Law Journal, 89(7):1261-1322.
Week 11: Product Liability and Torts
Calabresi, G. and A. D. Melamed. (1972) "Property Rules, Liability Rules, and Inalienability: One View of the Cathedral," Harvard Law Review, 85(6):1089-1128.
Shavell, S. (1980). "Strict Liability versus Negligence," The Journal of Legal Studies, 9(1):1-25.
Currie, J. and W. Bentley MacLeod. (2008) "First Do No Harm? Tort Reform and Birth Outcomes," Quarterly Journal of Economics, 123(2):795-830.
Week 14: The Economics of Immigration and Mobility
Boubtane, E., J.C. Dumont, and C. Rault. 2016. "Immigration and economic growth in the OECD countries 1986–2006." Oxford Economic Papers, 68(2):340-360.
Sasser, A.C. (2010.) "Voting with their feet: Relative economic conditions and state migration patterns." Regional Science and Urban Economics, 40(2):122-135.
Clemens, M.A. (2011.) "Economics and Emigration: Trillion-Dollar Bills on the Sidewalk?" Journal of Economic Perspectives, 25(3):83-106.
Week 15: The Economics of Crime and Punishment
Becker, G. (1974) "Crime and Punishment: An Economic Approach," Journal of Political Economy, 76(2):169-217.
Klick, J. and Tabarrok, A. (2005) "Using Terror Alert Levels To Estimate the Effect of Police on Crime," Journal of Law and Economics, 48(1):267–79.
Anwar, S., Bayer, P., & Hjalmarsson, R. (2012). “The Impact of Jury Race in Criminal Trials.” The Quarterly Journal of Economics, 127(2):1017-1055.
Court Cases
Regulatory Takings Cases (PDF)
Arver v. United States (SCOTUS, Selective Service draft [Demsetz on externalities], 1917): Wikipedia Summary; Cornell Case Brief
Lawrence v. Texas (SCOTUS, privacy rights, 2003): Wikipedia Summary; Cornell Case Brief; Supreme court overturns gay sex law (The Guardian)
Kelo v. City of New London (SCOTUS, eminent domain, 2005): Wikipedia Summary; Cornell Case Brief; The Legacy of Kelo v. New London (YouTube)
Timbs v. Indiana (SCOTUS, civil forfeiture, 2019): Wikipedia Summary; SCOTUS Opinion (pdf); Supreme Court Limits Police Powers to Seize Private Property (NYT)
Arver v. United States (SCOTUS, Selective Service draft [Demsetz on externalities], 1917): Wikipedia Summary; Cornell Case Brief
Lawrence v. Texas (SCOTUS, privacy rights, 2003): Wikipedia Summary; Cornell Case Brief; Supreme court overturns gay sex law (The Guardian)
Kelo v. City of New London (SCOTUS, eminent domain, 2005): Wikipedia Summary; Cornell Case Brief; The Legacy of Kelo v. New London (YouTube)
Timbs v. Indiana (SCOTUS, civil forfeiture, 2019): Wikipedia Summary; SCOTUS Opinion (pdf); Supreme Court Limits Police Powers to Seize Private Property (NYT)
