Economic Analysis of Law in European Legal Scholarship – serie

This book analyses EU food law from a regulatory, economic and managerial perspective. It presents an economic assessment of strategies of food safety regulation, and discusses the different regulatory regimes in EU food law. It examines the challenges of food safety in the internal market as well as the regulatory tools that are available. The book’s generic theorising and measurement of regulatory effects is supplemented by detailed analysis of key topics in food markets, such as health claims, enforcement strategies, and induced risk management at the level of the organizations producing food. The regulatory effects discussed in the book range from classical regulatory analysis covering e.g. effects of ex-ante versus ex-post regulation and content-related versus information-related regulation to new regulatory options such as behavioral regulation. The book takes as its premise the idea that economic considerations are basic to the design and functioning of the European food supply arena, and that economic effects consolidate or induce modification of the present legal structures and principles. The assessments, analyses and examination of the various issues presented in the book serve to answer the question of how economic theory and practice can explain and enhance the shaping and modification of the regulatory framework that fosters safe and sustainable food supply chains. ​​

This book offers an edited volume for all readers who wish to gain an in-depth grasp of the economic analysis of recent developments in energy law and policy in Europe and the United States. In response to waning resources and heightened environmental awareness, many countries are now seeking to redefine their energy mix. Several energy sources are available: coal and oil, natural gas, and a variety of renewables. Yet which of them are capable of addressing core energy-related concerns? Reliability, security, affordability, fairness, and sustainability all have to be taken into account. Further, once a target mix has been identified, two challenges remain for legal scholars: what role does the law play in achieving a specified energy mix, and, how can the law best fulfill that role? The essential energy concerns are just as important in defining the way we shape our energy mix as they are in defining the mix itself.An example of current challenges in energy law and policy canbe seen in the pursuit by the German and Swiss governments of the so-called “Energiewende” (energy transition). These policies are intended to enable the transition from a non-sustainable use of fossil and nuclear energy to a more sustainable approach based on renewable energies. On the one hand, the goal is to achieve a decarbonization of the energy economy by reducing the use of fossil energy sources such as petroleum, carbon and natural gas. On the other, and in response to the Fukushima nuclear accident, a phase out is intended to eliminate the dangers of nuclear technologies. Achieving these goals poses tremendous challenges for the two countries’ energy policies – partly because the energy transition will not only affect energy production, but also energy consumption.From a Law and Economics perspective, a number of questions arise: to what extent is it justifiable to rely on markets and continued technological innovation, especially with regard to the present exploitation of scarce resources? To what extent is it necessary for states to intervene in energy markets? Regulatory instruments are available to create and maintain more sustainable societies: command and control regulations, restraints, Pigovian taxes, emission certificates, nudging policies, and more. If regulation in a certain legal field is necessary, which policies and methods will most effectively spur the sustainable consumption and production of energy in order to protect the environment while mitigating any potential negative impacts on economic development? Do neoclassical and behavioural economics provide us with a suitable framework for predicting the market’s complex reactions to a changing energy policy? This book provides theoretical insights as well as empirical findings in order to answer these vital questions.

This book further develops both the traditional and the behavioural approach to competition law, and applies these approaches to a variety of timely issues. It discusses several fundamental questions regarding competition law and economics, and explores the applications of competition law and economics. In turn, the book analyses the interplay of intellectual property rights and patents in various aspects of competition law, and investigates the impacts that developments in information technology, such as big data analytics, have on competition law. The book also discusses the impact of energy law reforms on energy markets from a competition law perspective.Competition law is a classic field of economic analysis. This is largely due to the fact that competition law uses terms such as market, price, and competition and must therefore rely on economic know-how and analyses. In the United States, economic analysis has greatly influenced not just the scholarship on antitrust law, but also judicial decisions and agency enforcement. Antitrust law and economics are based on the traditional paradigm of neoclassical economics, which relies on the assumption that the market players, i.e. consumers and producers, are rational. This approach to competition law was later received in Europe under the banner of a “more economic approach”.For the past two decades, behavioural law and economics, which seeks to generate better insights into legal phenomena by providing more realistic psychological foundations for economic models, and to offer a multitude of applications in legislation and legal adjudication, has challenged the traditional economic approach to law in general and, more recently, to competition law specifically.

This book assesses the Statute for a European Cooperative Society (SCE) regarding agricultural activities by comparing how specific questions arising in this context must be dealt with under the Italian and Austrian legal systems.

This book assesses the Statute for a European Cooperative Society (SCE) regarding agricultural activities by comparing how specific questions arising in this context must be dealt with under the Italian and Austrian legal systems.

This edited volume covers the challenges currently faced by consumer law in Europe and the United States, ranging from fundamental theoretical questions, such as what goals consumer law should pursue, to practical questions raised by disclosure requirements, the General Data Protection Regulation and technology advancements.

This edited volume covers the challenges currently faced by consumer law in Europe and the United States, ranging from fundamental theoretical questions, such as what goals consumer law should pursue, to practical questions raised by disclosure requirements, the General Data Protection Regulation and technology advancements.

This book offers in-depth legal and political analysis concerning the compatibility of the Westphalian state model with globalization and the digital revolution.

This book offers in-depth legal and political analysis concerning the compatibility of the Westphalian state model with globalization and the digital revolution.

This book explores current issues regarding the regulation of various economic sectors, theoretically and empirically, discussing both neoclassical and behavioural economics approaches to regulation.

This book explores current issues regarding the regulation of various economic sectors, theoretically and empirically, discussing both neoclassical and behavioural economics approaches to regulation.

To date, the analysis of algorithmic antitrust has predominantly been shaped by pessimistic approaches to the risks of algorithms on the competitive environment.

To date, the analysis of algorithmic antitrust has predominantly been shaped by pessimistic approaches to the risks of algorithms on the competitive environment.

The first part examines the immediate impact of and responses to the coronavirus crisis, while the second explores the future possibilities that scholarly analysis of this crisis can offer.

The first part examines the immediate impact of and responses to the coronavirus crisis, while the second explores the future possibilities that scholarly analysis of this crisis can offer.

This book shares state-of-the-art insights on judicial decision-making from both theoretical and empirical perspectives.

This book shares state-of-the-art insights on judicial decision-making from both theoretical and empirical perspectives.

This book pursues the questions from a broad range of law and economics perspectives. This raises questions of the extent to which existent legal frameworks are still sufficient and whether there is a need for new or additional regulation in the affected areas: new demands are made on the law and jurisprudence.

This book pursues the questions from a broad range of law and economics perspectives. This raises questions of the extent to which existent legal frameworks are still sufficient and whether there is a need for new or additional regulation in the affected areas: new demands are made on the law and jurisprudence.

Sustainable (public and private) finance is closely interlinked with the Sustainable Development Goals (SDGs). The latter focus on enhancing the protection of both social and environmental assets at the local and global level, from the real economy and everyday life to financial markets and public policies, thereby laying the groundwork for a transition. Global sustainability challenges – including climate change, natural resource depletion, and rising inequality – are affecting the commercial environment and real economy in a way that presents both risks and opportunities for the private and public financial sectors. On the one hand, policymakers and investors (including banks and pensions funds) are increasingly recognizing the environment’s implications for the financial sector through both physical and transitional risks, producing impacts on financial services and products, not to mention corporate governance. On the other hand, governments and European and international institutions are aware of their sustainability-related responsibilities and the consequences of their actions. Both regulate and supervise financial markets but also use their budgetary and tax policies (e.g. carbon tax) and their participation in financial markets (e.g. green bonds and development banks) to overcome sustainability challenges. Therefore, the objective of this book is to help readers understand how private and public financial systems can be modified to create better value for society through sustainable approaches and initiatives such as the integration of environmental, social, and governance (ESG) factors in investment, procurement, and budgeting.

Sustainable (public and private) finance is closely interlinked with the Sustainable Development Goals (SDGs).

The present book aims to examine these foundations in general and, in particular, efficiency, reciprocity and meritocracy, and their relation to law and justice from an interdisciplinary perspective.Efficiency: Traditionally, the economic analysis of law has been guided by the goal of efficiency.

The present book aims to examine these foundations in general and, in particular, efficiency, reciprocity and meritocracy, and their relation to law and justice from an interdisciplinary perspective.Efficiency: Traditionally, the economic analysis of law has been guided by the goal of efficiency.

This book aims to analyse the principles and merits of CSR and ESG approaches using a law and economics perspective. ESG considerations are now central in the corporate world, influencing ratings, investment decisions, and corporate strategies.

This book addresses the question of how to tackle AI-enabled price discrimination (AIPD), which is commonly used in digital markets and can negatively impact competition and consumers. It explores the economic rationale behind AIPD, compares its assessment under EU and Chinese competition law and beyond, evaluates current legal regimes on AIPD from a comparative law and economics perspective, and provides policy recommendations to those jurisdictions for approaching AIPD as an infringement of competition law and beyond.Since the protection of free competition and consumer welfare are objectives of competition law in both the EU and China, two major jurisdictions, there seems to be a legal basis for competition law intervention. This book offers competition authorities guidance on how to tackle anticompetitive AIPD. Given that AIPD takes place in competitive and monopolistic markets, competition law alone is inadequate to fully address the potential concerns. This book, therefore, also examines other possibilities. Legislation on data protection, consumer protection and business regulation can contribute to tackling AIPD in different phases: (1) collection and processing of consumer data, (2) prediction of the consumer’s willingness to pay, and (3) application of discriminatory pricing in digital markets. As such, this work also offers insights to help the relevant authorities (i.e., those responsible for data protection, consumer protection and business regulation) tackle welfare-reducing AIPD in digital markets.This book will be of interest to academics, practitioners, policymakers, enforcers and consumers. It offers theoretical guidance for the relevant authorities (such as competition agencies, courts and regulators), practitioners and consumers, helping them understand the economic rationale behind AIPD, and provides suggestions to tackle anticompetitive and welfare-reducing AIPD in digital markets from a comparative law and economics perspective.

Yet this seemingly customized environment raises urgent concerns about the power of such marketing to exploit cognitive biases, reshape preferences, and deepen asymmetries in digital markets.This book offers the first in-depth law and economics analysis of personalized marketing in the digital age.

This book brings together legal and economic perspectives to examine how organizational structures, incentives and behavioural factors shape the actions of firms and their decision-makers. It covers principal agent problems, corporate criminal and civil liability,sustainability and ESG governance, as well as emerging questions related to decentralization,DLT and blockchain. Further chapters address organisational challenges in corporate law, behavioural barriers in governance and practical financial decision-making. Overall, the volume highlights how law and economics jointly contribute to understanding and improving organisational behaviour.

Game theory is a very powerful instrumental framework designed to analyze and solve complicated situations, especially decision-making problems under conditions of uncertainty. Major problems and issues in legal practice and jurisprudence are decision-making problems under conditions of uncertainty, therefore, it seems quite natural to use game theory to solve these problems. Moreover, game theory's solutions for these legal problems and issues are very simple, easily applicable, inexpensive and considered to be fair in comparison to other solutions. The objective of this book is to make game theory in the legal context accessible for the reader, especially for legal practitioners, academics and students, using clear, simple and comprehensive theory, explanations and examples from daily legal practice. The applications in law include analysis of the law, existing and ideal, as well as applications in legal practice. Although game theory is classified as a branch of mathematics, the book is written and designed in a way that no mathematical background is required to fully understand the theory itself and its applications.