This book is not only the best kind of law and economics, but it is the best kind of cyberspace law and economics. By framing the economic analysis around market failures, the authors demonstrate both the power and limits of economic analysis. And by applying this method to questions about the regulation of cyberspace, they provide the most illuminating analysis of this new space of social behavior. Beautifully and directly written, this book is a must for any student of law and economics, and for any student of the 21st century.# # Lawrence Lessig, Stanford Law School, US This book argues that the Internet revolution should exert a far more significant influence on economic thinking and on the perception of law. The authors acknowledge that the economic analysis of law provides a potentially powerful framework for evaluating regulatory approaches to the Internet. However, they question the capacity of traditional law and economics models to define the scope of legal intervention, both in cyberspace and in other more traditional markets which have also been influenced by the recent technological revolution.