Abstract
The aim of this paper is twofold. Firstly to review the book by Douglas Baird, Robert Gertner and Randal Picker on the use of Game Theory in Law,' and secondly to present some of the basic concepts from game theory in order to argue that these concepts can be of use to both practising and academic lawyers. Whereas game theory does not hold the complete answer to most, if any of the questions which are raised in law, it can provide additional insights to guide evaluations of the working of the legal system as well as informing the debates about legal reforms. Until GTL, lawyers wondering about the usefulness of game theory in a legal context but unfamiliar with its jargon and concepts had few sources to turn to.2 This book is therefore both timely and important. Game theory offers guidance on how to make decisions consistent with a set of objectives when no individual through their own actions solely determines the resultant outcomes. Individuals face a particular problem in decision making when they alone cannot control the outcome of their actions and when this outcome depends on the actions of others. In such cases, in order to evaluate the available options, each individual must attempt to identify and predict the actions of all other relevant individuals. This is particularly important in situations where there are potential conflicts of interest between these individuals. The law of tort provides some simple examples. Both the probability of an accident happening and the extent of the damage caused depend in many cases on both the injurer and injured. The optimal action of both those who may
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