Economic Analysis of Law and Governance

The book presents a unique combination of research papers, ranging from business-commercial law to economic analysis of legislation covering various contemporary socio-economic issues. The unique blend of diverse topics in the books ensures that the readers acquire a holistic understanding and much-needed knowledge about the theoretical and practical foundations of law and economics. Law and Economics tools align the conflicting interests such that the aggregate surpluses of the bargains maximize while ensuring that all stakeholders gain from the given transaction. The economic analysis enables one to expound on the behavior of markets, institutions, government, bureaucrats, legislatures and even individuals under various socio-economic and legal constraints through the tools of statistics and mathematics which provide concrete policy recommendations or solutions to a given problem. The book aims to provide an innovative perspective to the readers of contemporary policy-legal issues through an economic analysis.

Prof. (Dr.) Ranita Nagar is a Professor of Economics at Gujarat National Law University, Gandhinagar (India). She is the Head of GNLU Centre for Law and Economics and Former Dean, GNLU Research and Publication Division. She is the Editor in Chief of the GNLU Journal of Law and Economics.

Dr. Hiteshkumar Thakkar is an Assistant Professor of Economics at Gujarat National Law University, Gandhinagar (India). He is actively associated with research, training, and extension activities in the GNLU Centre for Law and Economics. He is the Editor of the GNLU Journal of Law and Economics.

Contents
Foreword by Thomas S. Ulen
Preface
Acknowledgment

Section I:- LAW & ECONOMICS APPROACH TO CRIMES
1. An Institutional Approach to Violent Crimes and Income Across Indian States - Dr. Nupur Nirola and Sunavo Ray Chowdhury
2. Empirical Economics is not an Option!: The Ineffectiveness of Economic Approach for Determining Death Penalty Deterrence - Ravi Shankar Pandey
3. White Collar Crimes - Economics and Law - Mohammad Atik Saiyed and Shukla Pooja Sunilkumar 36
4. Economics of Fraud - Ascertaining an Effective Method for Determination of Compensation - Aditi Tripathi 60
5. Analyzing the Indian Bail System in the Backdrop of the Optimal Bail Economic Model - Mansi Subramaniam and Abhimanyu Pathania

Section 2:- LAW & ECONOMICS APPROACH TO CORPORATE AND COMMERCIAL
6. RBI must Transform Prompt Corrective Action into Pre-emptive Corrective Action: Successes in Payments Technology Can Pave the Way - Aditya Sunil Naik
7. Formulating a Comprehensive Test for Predatory Pricing Analysis in India: Concept, Challenges and Opportunities - Sushant Arsh Massey Khalkho and Dhruv Jadhav
8. Project Insight: A Necessary Evil? - Shailja Rawal
9. The Intersection of Economics and Environmental Laws: An Analysis of the Interplay between Economics and Environment through the Environment Impact Assessment (EIA) Notification, 2020 - Ayush Raj

Section 3:- LAW & ECONOMICS APPROACH TO TAXATION
10. Inheritance Tax in India: Perspective and Issues - Rahul Desarda
11. Critical Analysis of Impact of GST on Synthetic Fibre Segment of Textile Sector - Manisha Patawari and Prof. Dr. Sanjay Prakash Srivastava
12. Implications of Deterrence Theory on Tax Evasion - Sujoy Sarkar

Section 4:- LAW & ECONOMICS APPROACH TO COVID-19
13. India’s Insolvency Reforms in COVID-19: A Law and Economics Perspective - Anchit Jasuja and Preksha Mehndiratta
14. Invoking the Pandemic as a Defence: Force Majeure in Indian Law and International Law - Akshita Singh and Jeevan Justin

Section 5: LAW & ECONOMICS APPROACH TO WOMEN ISSUES
15. Application of Neo-Classical Economic Tools to Dowry Deaths in Uttar Pradesh, India - Sanjeesha Agarwal and Eilin Maria Baiju
16. Gender Mainstreaming through Corporate Social Responsibility: Gender and Development - Krishna Agarwal

Section 6: MISCELLANEOUS LAW & ECONOMICS
17. Analysis of India’s Activities at the WTO Dispute Settlement Mechanism from 1995 to 2020 - Aditya Sharma
18. The Economics of the Fake News Market: A Response Using Law, Economics and Game Theory - Jay Bhaskar Sharma and Akshita Joshi
19. Understanding Justice Delay - Sunny Bhushan
20. Multilateral Agencies and Developing Economies: A Case Study and Correlational Analysis - Anant Agarwal