In the early models of incomplete contract neither party used to invest in the subject matter of the contract; those … realize subsequent to a binding contract, a systematic analysis has been attempted to see - first, how the legal remedies can … role than that has been realized. Focus remains on the ex-ante design of the contract, which would serve as an implicit …

, eds.), surveys major issues arising in the economic analysis of contract law. It begins with an introductory discussion of … contracts. These areas include freedom of contract (i.e., the scope of private power to create binding obligations), formation … of contracts (both the procedural mechanics of exchange, and rules that govern pre-contractual behavior), contract …

, including Hotwire and Priceline, brought the power of contract exchanges directly to consumers, allowing regular people to flex … benefit of consumer borrowers and investors.Modern contract law usually bends over backwards to protect consumers, so one …Businesses and sophisticated parties have long used “contract exchanges,” like the Chicago Board of Trade, to obtain a …

promisee to receive no damages. To give efficient incentives to both parties, we propose a novel contract requiring the … contract "anti-insurance" because it strengthens incentives by magnifying risk, whereas insurance erodes incentives by …

Neoclassical economic theory seems to aptly characterize contract law’s essence. Contracts enable two parties to reach … the achievement of economic efficiency serves as contract law’s major goal. This article, however, examines an alternative … hypothesis, that contract law is about enforcing inefficient bargains in order to provide enough security to facilitate …

This article examines some of the principles and assumptions from classical contract theory that underlie many of the … rules of contract law. It then explores the process by which written contracts are created and entered into. Comparing the … realities of the process involved in creating written contracts with the principles and assumptions underlying contract law …

Do you ask for contract or purchase terms prior to completing your everyday purchases? Do you first read the pizza box … before paying the pizza delivery guy or gal? Typical consumers do not ask for or read their contracts prepurchase, and … from the recent e-survey I conducted of consumers’ contracting behavior. The Article concludes by inviting further study …

The following case study investigates the contract enforcement institutions that enable German customers to purchase … developments in the field of information and communication technology. Overall, the importance of formal contract law in …