| Summary: | In very simple words, Economic Analysis of Law is an instrumental use of law in
order to bring efficiency. In this regard, many aspects of legal thought and
institutions may be evaluated according to their role in bringing economic
efficiency to the society. In this essay, we will discuss the so-called Prescription
as a legal institution. The most important questions which in this essay we are
going to answer are: Is the economic analysis of prescription the same as
evaluating advantages of prescription –which has a profound literature– or it is
another concept? Is prescription an efficient policy to the economists or it is
wholly or partly inefficient? By assuming that it is an efficient device, how
should be its start, end, suspension, interruption and resume? This essay is
divided into two topics of discourse: First, we will explain related key concepts.
Then, in the last topic of discourse, the economic analysis of prescription as a
matter of law will be rendered.
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