Law and Economics Evaluated by COPRAS A Multi-Criteria Decision Approach

It assesses how legal rules affect individual behavior, resource allocation, and overall social outcomes. By focusing on cost-benefit analysis, incentives, and market efficiency, this framework helps design laws that minimize social costs and maximize utility. Widely used in fields such as contract law, crime, and regulation, law and economics provides a rational basis for legal reform. This approach provides a powerful tool for improving legal policy through the combination of economic logic and empirical analysis. The importance of research in law and economics lies in its ability to bridge the gap between legal theory and economic reality. By applying economic analysis to legal systems, this approach improves understanding of how laws affect individual behavior, market dynamics, and social outcomes. It provides valuable tools for assessing the effectiveness and efficiency of legal provisions, leading to evidence-based policymaking. This interdisciplinary perspective helps in designing legal reforms that reduce social costs and improve welfare. Law and economics contribute to the creation of a more rational, efficient, and just legal framework that is aligned with economic principles. Alternativestaken as Traditional Law Approach (Theory-Based Law), Law and Economics Approach (Focus on Economic Efficiency), Behavioral Law and Economics (Incorporating Psychological Insights), Institutional Economics Approach (The Role of Legal Institutions), Public Choice Theory Approach (Law Influenced by Political Incentives. Evaluation parameter: Economic efficiency, Social welfare impact, Implementation complexity, Resistance to change. Based on the COPRASmethod, an analysis of Law and Economics Shows that the Institutional Economics Approach a leading position. The findings show that Institutional Economics Approach, its first position with the highest ranking, while Traditional Law Approach has the lowest ranking