Of distributive justice and economic efficiency: An integrated theory of the common law

Abstract

Zerbe has elsewhere developed a concept of economic efficiency that has implications for common law efficiency. Here we explore aspects of this concept of efficiency for the relationship between common law efficiency and considerations of distributive justice. In particular, we consider examples from criminal law — the law of rape, from contract law-exculpatory clauses, and from tort law-contribution. We find that including considerations of distributive justice better explains common law efficiency than traditional Kaldor-Hicks effficiency.

Citation

Wasankari, B.N., Zerbe, R.O. and Vinyard, S. (2000), "Of distributive justice and economic efficiency: An integrated theory of the common law", Research in Law and Economics (Research in Law and Economics, Vol. 19), Emerald Group Publishing Limited, Leeds, pp. 139-222. https://doi.org/10.1016/S0193-5895(00)19005-0