 The vast literature of economic analysis of law is not easily characterized. As the set of distinct claims suggests, the literature contains a large number of different projects. For purposes of this essay, we may identify three distinct strands of thought within economic analysis of law. A large percentage, but not all, of the literature in economic analysis of law falls within one of these three strands. I shall call one strand policy analysis, the second strand political economy, and the third strand doctrinal  analysis.[4]