Chapter 5. The Prescriptive-Moral and Legal Relevance of Allocative-Efficiency Conclusions

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Acknowledgments ix
4. Introduction 1
5. Part One. The Definition of Economic Efficiency
6. Chapter 1. The Correct Definition of the Impact of a Choice on Economic (Allocative) Efficiency 19
7. Chapter 2. A Critique of the Definitions of and Tests for Economic Efficiency That Economists and Law and Economics Scholars Use 48
8. Conclusion to Part I 63
9. Part Two. The Assessment of Economic Efficiency
10. Chapter 3. The Distortion-Analysis Approach to Economic-Efficiency Assessment 73
11. Chapter 4. Some Second-Best-Theory Critiques of Canonical Allocative-Efficiency Analyses and of the Standard Justifications for Ignoring Second Best 271
12. Part Three. The Relevance of Allocative-Efficiency Conclusions
13. Chapter 5. The Prescriptive-Moral and Legal Relevance of Allocative-Efficiency Conclusions 343
14. Chapter 6. A Critique of Various Relevance Arguments Made by Economists and Law and Economics Scholars 402
15. Conclusion 421
16. Notes 437
17. Glossary of Frequently Used Symbols and the Concepts for Which They Stand 491
18. Index 499