Farnsworth, Ward

The Legal Analyst : A Toolkit for Thinking About the Law

Preface vii Acknowledgments xi PART I. INCENTIVES Ex Ante and Ex Post 3(10) The Idea of Efficiency 13(11) Thinking at the Margin 24(13) The Single Owner 37(10) The Least Cost Avoider 47(10) Administrative Cost 57(9) Rents 66(9) The Coase Theorem 75(12) PART II. TRUST, COOPERATION, AND OTHER PROBLEMS FOR MULTIPLE PLAYERS Agency (with Eric Posner) 87(13) The Prisoner's Dilemma 100(9) Public Goods 109(8) The Stag Hunt 117(9) Chicken 126(10) Cascades 136(8) Voting Paradoxes 144(8) Suppressed Markets (with Saul Levmore) 152(11) PART III. JURISPRUDENCE Rules and Standards 163(9) Slippery Slopes (with Eugene Volokh) 172(10) Acoustic Separation 182(6) Property Rules and Liability Rules 188(10) Baselines 198(11) PART IV. PSYCHOLOGY Willingness to Pay and Willingness to Accept: The Endowment Effect and Kindred Ideas 209(9) Hindsight Bias 218(6) Framing Effects 224(6) Anchoring 230(7) Self-Serving Bias, with a Note on Attribution Error 237(12) PART V. PROBLEMS OF PROOF Presumptions 249(8) Standards of Proof 257(16) The Product Rule 273(8) The Base Rate 281(13) Value and Markets 294(11) Notes 305(24) Author Index 329(6) Subject Index 335