Keywords: economic analysis of law; empirical legal studies; methodology of legal science
Abstract: The purpose of the article is to present economics as a set of tools that facilitate the analysis of the social impacts of legal norms. We illustrate the economic approach to the study of law with its application to the legal liability for accidents. We summarize the methodological approaches used in the three main types of studies in Law and Economics: (i) verbal, logical argumentations, (ii) mathematical models, and (iii) empirical legal studies. Particular attention is devoted to empirical studies that exploit experimental research design. Finally, we highlight the existing research opportunities and add several tips for aspiring young scholars.