Economic Analysis Of Choice Of Law

As the development of world economy, it is normal to analyze social phenomenon with economics analysis. It also has a long history and seems to have a great expansion from the 1960s, which almost involves all subjects of legal field. Moreover it can explain some problems which can not be explained by law, and becomes an important supplement of legal analysis.It is inevitable to use economic analysis in the field of private international law .As a new branch of science, law and economics is chosen from economics, and aims at comparing the interest and the cost of right trading, finding the best institutional arrange and the balance between Legal system and resource allocation. From this point of view, law and economics which includes choosing and measurement is also a selection theory. And it has much in common with the process of choosing in private international law, which has many important parts such as the interest of the states or the provinces,the ability of the judge, the cost and the efficiency of the law . Based on this point, this paper will analyze the Choice of Law in private international law with the method of economics .Firstly, this paper will introduce the basic concepts and analysis tools in law and economics. Secondly, the author will make an introduction of Choice of Law and reveal the difficult problems of Choice of Law with the method of economics. Thirdly, the author will display the rationality and importance of law economics according to comparing the value of Choice of Law in different periods. At fourth, the author will make more research in different theories of Choice of Law and elaborate the role of economics analysis. Lastly, the author will make a specific analysis on Choice of Law of contract and infringement, and discuss how the judge gets the balance between personal interests and international interests according to choosing efficient laws.Although there is very little relevant research in this field, the author hope more and more scholars will pay attention to it, make a contribution in deepening the theory of private international law in order to solve disputes more effectively and promote harmonious development of the international society.