The economic foundations of private law - an introduction, Richard A. Posner and Francesco Parisi. Part 1 The methodology of law and economics: the law and economics movement, Richard A. Posner; about law and economics - a letter to Ronald Dworkin, Guido Calbresi; why the legal system is less efficient than the income tax in "redistributing income", Louis Kaplow and Steven Shavell; wealth maximization revisited, Richard A. Posner. Part 2 The efficiency of the common law hypothesis: an economic analysis of the courts, William M. Landes; an economics analysis of legal rulemaking, Isaac Ehrlich and Richard A. Posner; why is the common law efficient?, Paul H. Rubin; the common law process and the selection of efficient rules, George L. Priest; economic analysis of legal disputes and their resolution, Robert D. Cooter and Daniel L. Rubinfeld. Part 3 The Coase theorem and the economics of property rights: the problem of social cost, R.H. Coase; toward a theory of property rights, Harold Demsetz; property rules, liability rules and inalienability - one view of the cathedral, Guido Calabresi and A. Douglas Melamed. Part 4 The economics of contract law: the economic basis of damages for breach of contract, John H. Barton; mistake, disclosure, information and the law of contracts, Anthony T. Kronman; the case for specific performance, Alan Schwartz; enforcing promises - an examination of the basis of contract, Charles J. Goetz and Robert E. Scott; damage measures for breach of contract, Steven Shavell; damage measures for breach of contract, Steven Shavell; filling gaps in incomplete contracts - an economic theory of default rules, Ian Ayres and Robert Gertner. Part 5 The economics of tort law and liability systems: the positive economic theory of tort law, William M. Landes and Richard A. Posner; strict liabilty versus negligence, Steven Shavell; liability for harm versus regulation of safety, Steven Shavell; economic analysis of punitive damages, Robert D. Cooter.