Includes Bibliographical references and index.

Chapter 1. Finding the Optimal Use of a Limited Income
Chapter 2. Demand Curves and Consumer Surplus
Chapter 3. Supply Curves and the Flow of Resources
Chapter 4. Using Demand and Supply Curves to Evaluate Policy
Chapter 5. The Economics of Monopoly
Chapter 6. Public Goods and Common Resources
Chapter 7. Externalities
Chapter 8. Pollution in the Workplace: Contract or Externality?
Chapter 9. Lemons Markets and Adverse Selection
Chapter 10. Sorting as a Solution to Asymmetric Information
Chapter 11. Moral Hazard and Agency Problems
Chapter 12. Game Theory and Related Issues
Index

Whether dealing with contracts, tort actions, or government regulations, lawyers are more likely to be successful if they are conversant in economics.Economics for Lawyersprovides the essential tools to understand the economic basis of law. Through rigorous analysis illustrated with simple graphs and a wide range of legal examples, Richard Ippolito focuses on a few key concepts and shows how they play out in numerous applications. There are everyday problems: What is the social cost of legislation enforcing below-market prices, minimum wages, milk regulation, and noncompetitive pricing? Why are matinee movies cheaper than nighttime showings? And then there are broader questions: What is the patent system's role in the market for intellectual property rights? How does one think about externalities like airport noise? Is the free market, a regulated solution, or tort law the best way to deliver the "efficient amount of harm" in the workplace? What is the best approach to the question of economic compensation due to a person falsely imprisoned? Along the way, readers learn what economists mean when they talk about sorting, signaling, reputational assets, lemons markets, moral hazard, and adverse selection. They will learn a new vocabulary and a whole new way of thinking about the world they live in, and will be more productive in their professions. (Source: WorldCat)