Almost thirty years ago, I took a class on Law and Economics, taught by Dan Graham at Duke University. Subsequently, I wrote a Law and Economics-style PhD thesis under Dan’s guidance. About that time Mike Meurer, who was the first person I knew who held both a law degree and a PhD in economics, joined Duke’s faculty; Mike proved inspirational in spurring and directing my early efforts. Dan and Mike have much to answer for. Part of the underappreciated fallout from the collapse of the Soviet Union was the derailing of my budding career in Law and Economics, as I was drawn to study the Russian economic transition. After the Russian economy was, er, sorted, I came to the University of Chicago. Law and Economics pervades the atmosphere at Chicago, and I proved susceptible to its influence. Chicago gave me the opportunity to teach Law and Economics, which I have been doing for more than a decade. This book is one result of those pedagogical efforts, and it has been much improved by countless interactions with my Law and Econ students and teaching assistants over the years. George Papava, Ravi Gupta, and Petr Barton merit special mention, but without detracting, I hope, from the manifest contributions of many others.