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The intersection between law and economics is a dynamic field of research. Yet, European law has so far not been the subject of comprehensive, systematic economic analysis. EU Law and Economics closes this gap, providing an overview of the application of economics to the institutional, procedural, and substantive aspects of European law. Drawing on various branches of the economic sciences – including rational choice and game theory, and institutional and behavioural economics – this book goes beyond conventional methods of EU legal scholarship to expand our understanding of EU law and its effects. This book devotes attention to EU Treaties and secondary law, as well as their adjudicative interpretation, while using economic theory to explain their core legal principles such as conferral, subsidiarity, and mutual recognition.
Pascal Lamy, former Director General of the World Trade Organization (WTO) and Vice-President of the Paris Peace Forum
"Understanding the European Union requires more than studying the rules laid down in the European Treaties. EU Law and Economics opens an insightful and thought-provoking dialogue between two distinct disciplines. Written with lucid erudition, Steinbach deploys economic analysis to illuminate core structural questions about the European legal order. An important new contribution to the theoretical and practical understanding of EU law."
Rosa Lastra, Sir John Lubbock Chair in Banking Law and Chair of the Institute of Banking and Finance Law the Centre for Commercial Law Studies, Queen Mary University of London
“EU Law and Economics provides a masterful analysis of the interaction between law and economics in the European Union, and the different perspectives that lawyers and economists have when approaching the why, how, who and what of integration. The book is destined to become an essential reference for scholars, practitioners students and policy-makers in law and economics.”
Jean Pisani-Ferry, Professor of Economics at Sciences Po (Paris), Senior Fellow at Bruegel (Brussels) and Peterson Institute for International Economics (Washington)
“Armin Steinbach’ research work combines an acutely insightful grasp of the minutiae of the European Union’s legal system with an exceptionally perceptive command of the economics of European policy integration. This masterpiece book will no doubt prove indispensable read for both legal scholars and economists.”
Joel P. Trachtman, Henry J. Braker Professor of International Law, The Fletcher School of Law and Diplomacy, Tufts University
“In this insightful volume, Armin Steinbach provides an innovative, coherent, and satisfying approach to understanding the rules, processes, and constitutional structure of European integration. This volume shows, to paraphrase Molière in Le Bourgeois Gentilhomme, that for 70 years the EU has been ‘speaking’ law and economics without knowing it.”
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