This important volume presents a rich collection of ideas on and insights into the law and economics of contracts. It includes material relevant to a large number of legal fields. Many of the articles are classics that have, over the years, become focal points for continuing debate; others provide an easily accessible account of particular areas. The editor's comprehensive introduction provides an overview of law and economics scholarship in contracts over the past few decades and a portal into an evolving field. Topics include: the economics of contracting; efficient breach and renegotiation; expectation damages and its alternatives; default rules and mass markets.
This unique and timely book offers an up-to-date, clear and comprehensive review of the economic literature on contract law. The topical chapters written by leading international scholars include: precontractual liability, misrepresentation, duress, gratuitous promises, gifts, standard form contracts, interpretation, contract remedies, penalty clauses, impracticability and foreseeability. Option contracts, warranties, long-term contracts, marriage contracts, franchise contracts, quasi-contracts, behavioral approaches, and civil contract law are also discussed. This excellent resource on contract law and economics will be particularly suited to contract law scholars, law teachers, policy makers, and judges. For experts in and practitioners of contract law this will be a key book to buy.
The work of the Economic Impact Group within CoPECL
Author: Filomena Chirico
Publisher: Walter de Gruyter
The Economic Impact Group (EIG) was created to support the work on the DCFR with insights from law and economics. It brings together a number of leading European law and economics scholars. The Group looked at the main elements of the DCFR with two questions in mind: from an economic perspective, is it sensible to harmonize private law across Europe for this specific element, and is the solution chosen in the DCFR optimal? This book presents the outcome of the work of the EIG. It deals with key issues such as the function of contract law, contract formation, good faith, non-discrimination, specific performance versus damages, standard contractual terms and consumer protection in contract law. The EIG complements the work of the drafters of the DCFR with insightful and critical assessments, based on the well-established law and economics literature.
The field of law and economics has matured to a point where scholars employ economic methods to understand the nature of legal rules and guide legal reform. This text is a broad survey of that scholarship as it has been applied to problems in tort, contracts, property and litigation.
'This monograph sets a model for what good comparative law and economics scholarship should look like. Solid legal thinking is coupled with sound and accessible economic analysis, with attention to real life legal problems.' - Francesco Parisi, University of Minnesota, US and University of Bologna, Italy
This comprehensive and established book - first published in German - explains the new approach of law and economics to civil law. Written by two of Europe's leading scholars in the field, it provides a thorough yet accessible economic analysis of tort law, contract law and property law, with particular emphasis placed on legal cases and doctrines from civil law. The authors first review the basic concepts of both normative and positive economics and their links to institutional economics. They move on to develop the economic rationales of tort law and examine the different concepts involved. They also investigate contracts, especially sales contracts, quasi contracts, and pre-contractual duties which play a prominent role in civil law countries. Finally, they provide a comprehensive overview of the economic functions and legal forms of property law. Throughout, the authors analyse and evaluate the complexities of civil law using economic theory, and clearly demonstrate that the legal forms found in civil law frequently serve the purpose of increasing a nation's wealth. This outstanding volume is the first law and economics textbook that concentrates on civil law. It integrates legal doctrines with economic reasoning, and lucidly explains the concepts involved. It requires no prior knowledge of either economics or law and will undoubtedly become the requisite textbook in the field for all students of law, law and economics and business administration. It will also be of great value to academics and practitioners interested in an overview of this area.