Optional Law : The Structure of Legal Entitlements

"Optional Law is a tour de force. Ian Ayres shows us how option theory can connect a set of important legal concepts with a breadth that spans areas of contracts, property, and torts. Through the course of this book, Ayres works from a treasure trove of methodology that includes finance theory, game theory, and auction theory."--Barry E. Adler, New York University School of Law

"Ian Ayres is one of the great innovators of our time in the legal academy. In Optional Law, he firmly establishes options theory as a valuable tool of legal analysis, and uses it to reveal the underappreciated potential of liability rules to improve both the efficiency and fairness of legal outcomes. True to form, Ayres marries theoretical creativity, clear exposition, and a sense of practical feasibility, in a product that will have a profound impact on the way we understand legal rights."--George Triantis, Director of the John M. Olin Program in Law and Economics at University of Virginia School of Law