Game Theory and the Law
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Game Theory and the Law by Douglas G. Baird
Book DescriptionThis text applies the tools of game theory and information economics to advance the understanding of how laws work. Organized around the major solution concepts of game theory, the authors shows how such well-known "games" as the prisoner's dilemma, the battle of the sexes, beer-quiche and the Rubinstein bargaining game can illuminate many different kinds of legal problems. The organization of "Game Theory and the Law" serves to highlight the basic mechanisms at work and to lay out a natural progression in the sophistication of the game concepts and legal problems considered. "Game Theory and the Law" should serve as an accessible primer on game theory for non-specialists. Many of the models and ideas it sets forth, however, are new. The authors show how game theory offers ways of thinking about problems in anti-discrimination, environmental, labour and many other areas of law. The book makes few formal demands on the reader. The basic concepts of modern game theory are introduced without requiring mathematical tools beyond simple algebra, which is used sparingly. It also contains a comprehensive glossary of legal and economic terms, ranging from the absolute priority rule to von Neumann-Morgenstern expected utility theory. It offers those interested in law a way of thinking about legal rules, and it shows to those interested in game theory a largely unexplored area in which its tools have many applications.
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Book DetailsISBN: 9780674341111
(235mm x 155mm x 22mm)
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 28-Aug-1998
Country of Publication: United States
Books By Author Douglas G. Baird
Reconstructing Contracts, Hardback (April 2013)» View all books by Douglas G. Baird
Douglas Baird takes stock of the current state of contract doctrine and in the process reinvigorates the classic framework of Anglo-American contract law, showing that Oliver Wendell Holmes's set of principles, properly understood, continues to provide the best guide to contracts for a new generation of students, practitioners, and judges.
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Author Biography - Douglas G. Baird
Douglas G. Baird is Harry A. Bigelow Distinguished Service Professor of Law at the University of Chicago Law School. Robert H. Gertner is Professor of Economics and Strategy at the University of Chicago. Randal C. Picker is Paul and Theo Leffmann Professor of Law at the University of Chicago.
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