Contemporary Developments
Law and economics has developed in a variety of directions. One important trend has been the application of game theory to legal problems. Other developments have been the incorporation of behavioral economics into economic analysis of law, and the increasing use of statistical and econometrics techniques. Within the legal academy, the term socio-economics has been applied to economic approaches that are self-consciously broader than the neoclassical tradition.
Read more about this topic: Law And Economics
Famous quotes containing the words contemporary and/or developments:
“Every American poet feels that the whole responsibility for contemporary poetry has fallen upon his shoulders, that he is a literary aristocracy of one.”
—W.H. (Wystan Hugh)
“The developments in the North were those loosely embraced in the term modernization and included urbanization, industrialization, and mechanization. While those changes went forward apace, the antebellum South changed comparatively little, clinging to its rural, agricultural, labor-intensive economy and its traditional folk culture.”
—C. Vann Woodward (b. 1908)