... human beliefs and expectations, on the one hand, and the effectiveness of the law, on the other I propose a new approach to law and economics that is rooted in game theory and rectifies the flaw ... of the law What the focal point approach to law and economics does is to take on the full game of the economy, including the police and the judge, and then tries to explain how and why the law ... focal point approach to law and economics treats all enforcers of the law, those I refer to as functionaries, as part of the game, but it does not treat the act of creating the law as part of the...