Read the assignment carefully before you start Essay - 1

Read the assignment carefully before you start - Essay ExampleLaw and political thriftiness is more likely than other branches of legal examination to use empirical or statistical methods to appreciate these responses to incentives. Law and economics shares with other branches of economics the supposition that individuals are rational and respond to incentiveMy prime(prenominal) was also based on the economic principle of how people respond to incentives. As people crystallise decisions by comparing costs or benefits, their behavior might change when the costs or benefits vary. This is a characteristic of law and economics as it emphasize on incentives and peoples responses to these incentives. For instance, the resolution of toll payments in an accident, law is not to reimburse injured victims, but rather to offer an incentive for emf injurers to take effective cost-justified insurances to evade causing the accident.In sum, law and economics will enable me to calumniate on the financial frauds such as bankruptcy, creditors-debtors misery. Specializing in law and economy will assist in intensifying contracts and corporations in order to gain efficiency in any branch of economics. That is to say, law and economy crosscuts all the branches of