Economic analysis of civil procedure

The scarcity of resources and necessity of their efficient application in all spheres of life and work conditioned the need for the application of economy in the sphere of law and economic analyses of legal institutes. The fact that the field of law and judiciary absorbs significant amounts of resources requires the introduction of the criteria of efficiency with the aim of the reduction of expenses incurred by this field. The paper analyzes the civil procedure from the perspective of economy, indicates to factors which influence the decision of the dispute party to look for the solution at court but also private and social expenses which are conditioned by court-based dispute solving and protection of the law. With the aim of the provision of the response to the question of efficiency of legal institutes, economy developed economic models, which, in a simplified manner indicate to the importance of the decisions passed in the judiciary system and their economic aspect. The insisting on fast and efficient solution gives meaning to legal protection, while the length of the procedure takes the meaning away from it. The length and efficiency of the procedure influence the amount of expenses of the procedure but not individual and social wellness.