The Legal Analyst: A Toolkit for Thinking about the Law
There are two kinds of knowledge law school teaches: legal rules on the one hand, and tools for thinking about legal problems on the other. Although the tools are far more interesting and useful than the rules, they tend to be neglected in favor of other aspects of the curriculum. In The Legal Analyst, Ward Farnsworth brings together in one place all of the most powerful of those tools for thinking about law.\ From classic ideas in game theory such as the “Prisoner’s Dilemma” and the “Stag...
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There are two kinds of knowledge law school teaches: legal rules on the one hand, and tools for thinking about legal problems on the other. Although the tools are far more interesting and useful than the rules, they tend to be neglected in favor of other aspects of the curriculum. In The Legal Analyst, Ward Farnsworth brings together in one place all of the most powerful of those tools for thinking about law.From classic ideas in game theory such as the “Prisoner’s Dilemma” and the “Stag Hunt” to psychological principles such as hindsight bias and framing effects, from ideas in jurisprudence such as the slippery slope to more than two dozen other such principles, Farnsworth’s guide leads readers through the fascinating world of legal thought. Each chapter introduces a single tool and shows how it can be used to solve different types of problems. The explanations are written in clear, lively language and illustrated with a wide range of examples.The Legal Analyst is an indispensable user’s manual for law students, experienced practitioners seeking a one-stop guide to legal principles, or anyone else with an interest in the law.
Preface viiAcknowledgments xiIncentivesEx Ante and Ex Post 3The Idea of Efficiency 13Thinking at the Margin 24The Single Owner 37The Least Cost Avoider 47Administrative Cost 57Rents 66The Coase Theorem 75Trust, Cooperation, and Other Problems for Multiple PlayersAgency Eric Posner 87The Prisoner's Dilemma 100Public Goods 109The Stag Hunt 117Chicken 126Cascades 136Voting Paradoxes 144Suppressed Markets Saul Levmore 152JurisprudenceRules and Standards 163Slippery Slopes Eugene Volokh 172Acoustic Separation 182Property Rules and Liability Rules 188Baselines 198PsychologyWillingness to Pay and Willingness to Accept: The Endowment Effect and Kindred Ideas 209Hindsight Bias 218Framing Effects 224Anchoring 230Self-Serving Bias, with a Note on AttributionError 237Problems of ProofPresumptions 249Standards of Proof 257The Product Rule 273The Base Rate 281Value and Markets 294Notes 305Author Index 329Subject Index 335
\ David J. Bederman“This is an outstanding book that occupies a significant and unique niche in the literature of jurisprudence and legal methodology. Farnsworth introduces students and practitioners alike to basic methods of legal analysis across a broad range of disciplines. This book should become the ultimate ‘toolkit’ for those new to the profession.”\ \
