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Optional Law – The Structure of Legal Entitlements - Chicago Scholarship Online
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Optional Law: The Structure of Legal Entitlements

Ian Ayres


Spurred by the advances in option theory that have been remaking financial and economic scholarship over the past thirty years, a revolution is taking shape in the way legal scholars conceptualize property and the way it is protected by the law. This book explores how option theory is overthrowing many accepted wisdoms and producing tangible new tools for courts in deciding cases. It identifies flaws in the current system and shows how option theory can radically expand and improve the ways that lawmakers structure legal entitlements. It shows that an option-based system gives parties the opti ... More

Keywords: option theory, property, lawmakers, legal entitlements, option-based system, legal option, entitlement structures, private information, legal rights, economic scholarship

Bibliographic Information

Print publication date: 2005 Print ISBN-13: 9780226033464
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226033488.001.0001


Affiliations are at time of print publication.

Ian Ayres, author