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Game Theory and the Law, by Douglas G. Baird, Robert Gertner, Randal Picker
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This book promises to be the definitive guide to the field. It provides a highly sophisticated yet exceptionally clear explanation of game theory, with a host of applications to legal issues.
- Sales Rank: #948722 in Books
- Published on: 1998-09-01
- Released on: 1998-07-17
- Original language: English
- Number of items: 1
- Dimensions: .86" h x 6.10" w x 9.36" l, .85 pounds
- Binding: Paperback
- 344 pages
Review
Game Theory and the Law promises to be the definitive guide to the field. It provides a highly sophisticated yet exceptionally clear explanation of game theory, with a host of applications to legal issues. The authors have not only synthesized the existing scholarship, but also created the foundation for the next generation of research in law and economics. (Daniel A. Farber, University of Minnesota Law School)
The most comprehensive and encompassing treatment of this approach… [This] is the first nontechnical, modern introduction to how (noncooperative) game theory can be applied specifically to legal analysis… Game Theory and the Law is a user-friendly analysis of concrete, numerical examples, rather than a theoretical presentation of abstract concepts. The authors introduce and explain, with actual legal cases or hypotheticals, the salient issues of modern game theory. This breadth of coverage is remarkable. This is not just a textbook; it is also something of a research monograph, introducing many new models attributable to the authors alone. (Peter H. Huang Jurimetrics Journal)
Game Theory and the Law is an important book. It is important in the sense that it will serve as a catalyst for an expanded use of game-theoretic models in the study of law. It will be a book that people will one day recognize as having had a considerable influence on its field. And it will receive the praise that accompanies such influence. Happily, such influence will be beneficial to the field of law and such praise will be richly deserved, because Game Theory and the Law is an extremely intelligent and thoughtful text… One of the features of the book that is most striking (and, for my part, most welcome) is the thoughtful and sensible manner in which they approach the use of game theory. Unlike many proponents of game-theoretic analysis, they do not present it as the only legitimate approach to social-scientific analysis. The authors present game theory as a powerful tool that can be used along with other approaches to enhance our understanding of the role of law in social life… The persuasiveness of their general argument for the utility of game theory derives from a combination of the power of their insights along with the sensibility of their analysis. The book is written in a clear, concise and interesting manner. Its bibliographic references render it a source book for additional research in both game theory and law. This is a book that should be read by scholars of law in particular and scholars of political behavior in particular. (Jack Knight Law and Politics Book Review)
About the Author
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.
Most helpful customer reviews
24 of 28 people found the following review helpful.
A pathbreaking work of importance and clarity
By A Customer
This book popularizes and extends a new approach (non-cooperative game theory) to the economic analysis of law. Readable and concise, this book is a must for students and scholars wishing to understand the ways in which legal rules can be usefully modeled as non-cooperative games. As a professor in the discipline, I am awed by the important and brilliant scholarship presented in this book with superb skill.
3 of 3 people found the following review helpful.
Could have been MUCH better
By Vahan D.
The problem I had with this book is the manner with which it was written.
It was written in a very assuming way, as if the authors believed you know
what they are talking about; this was awfully pretentious, since it's meant
to be an introduction as opposed to an improvement on prior knowledge.
Also, there were VERY confusing transitions. For instance, they would mention
something they were going to talk about, deviate and go off tangent for a
few pages, then start again on the topic with no clean modulation.
Varian has a few chapters in his Microeconomics book that makes many (but not
all) of the same points as this book, only he does it in a more illustrative,
easy to follow, and even exciting manner.
0 of 0 people found the following review helpful.
Not sufficiently rigorous
By Rapid Logic
If you are a lawyer with some maturity as a practitioner, and you have had a formal course in game theory in a quantitative discipline, you will be bored reading this book and likely will gain very little. You are better off studying common knowledge and epistemic game theory.
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