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Law and Economics as the Methodology of Administrative Law - Review on the Distribution Industry Development Act through the Coase Theorem -

  • DONG-A LAW REVIEW
  • 2020, (88), pp.149-178
  • DOI : 10.31839/DALR.2020.8.88.149
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law
  • Received : July 17, 2020
  • Accepted : August 12, 2020
  • Published : August 31, 2020

Bang,Jung-Mi 1

1서울대학교 법학연구소

Accredited

ABSTRACT

The administrative environment has been changing in a dynamic manner in the 21st century. Korean administrative legal science can no longer extensively rely on the traditional legal doctrine which is centered on interpreting existing legal texts. In order to sufficiently address the change, there needs to be more effort in analyzing the various administrative actions and embarking on interdisciplinary researches. Ever since the publication of Ronald Coase's “The Problem of Social Cost” in 1960, the field of economic analysis of law has been expanding. While economics deals with the change in human behavior according to cost in general, an economic analysis of law is focused on the relationship between regulations and human behavior. If regulations can be designed in a way that alters individuals to act rationally, then society as a whole can benefit from such regulation scheme. Also economic theories and concepts can help explain why people react in a certain way to regulatory incentives. In essence, an economic analysis of law contributes in formulating objective rules in evaluating and analyzing regulatory policies. In this article I discuss the meaning of regulations from the perspective of economic analysis of law, and review the Distribution Industry Development Act(hereinafter ‘Act’) by applying the Coase Theorem. Before delving into the specifics, several theories affiliated to the economic analysis of law are introduced in order to provide a theoretical background to the review of the Act. After assessing the theories in a normative manner, I examine how the theories can be applied in analyzing the Act.

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