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Indiana University Bloomington


The Kelley Advantage

The department is home to the authors of Managerial Economics and Business Strategy and Games and Information: An Introduction to Game Theory, two of the nation’s leading textbooks in the field.

Research and Publications

Book Chapters

Norms in Law and Economics

2007, Handbook in Law and Economics

Eric Bennett Rasmusen, Richard McAdams


Everyone realizes the importance of social norms as guides to behavior and substitutes for law, but coming up with a paradigm for analyzing norms has been surprisingly difficult, as has systematic empirical study. In this chapter of the Handbook of Law and Economics, edited by A. Mitchell Polinsky and Steven Shavell.  We survey the topic.


Rasmusen, Eric Bennett, and  Richard McAdams (2007), "Norms in Law and Economics", in A. Mitchell Polinsky & Steven Shavell eds. Handbook of Law and Economics, Volume 2, Amsterdam: Elsevier.