Functional Approach to Law and Economics

What is the functional approach in law and economics and do we use it when regulating?
This is the topic of this video
Content:
What is functional law and economics?
Positive approach to law and economics
Normative approach to law and economics
Efficiency and the functional approach
Maximization and the functional approach
EU Regulation and the Functional approach to lawmaking
Academic Compliance by Kalle Johannes Rose