Economics of Justice in Kerala

Abstract

The focus of the present study is on issues related to Legal—Economics. The economic approach to legal issues is based on the belief held by both legal professionals and economists that law and economics are complementary disciplines and that collaboration is highly beneficial.The principles of economic analysis can help our understanding of the law. Economic approach has important effects on the costs and benefits that prospective litigants may expect from litigation and their decisions to litigate or to settle out of court. Economic consideration is also helpful to understand I 1 the significance of litigation costs, the practical problems of legal administration and the provision of legal servicesz. The economic approach to law is mainly based on the belief held by some economists that the core of economics, the theory of choice is in principle- applicable to all human and institutional behaviour.