This article makes a comparative examination of the widening spectrum of cases in which both tort law and contract law … an obligation that, on the one hand, is predicated on and arises from the contract, but, on the other hand, does not … this article is to propose general guide lines for either choosing between tort law and contract law when imposing non …

This article makes a comparative examination of the widening spectrum of cases in which both tort law and contract law … an obligation that, on the one hand, is predicated on and arises from the contract, but, on the other hand, does not … this article is to propose general guidelines for either choosing between tort law and contract law when imposing non …

multiplicative separability condition, the optimal mechanism offers a single contract. This condition holds, for example, when output … likelihood ratio property, the mechanism offers a single debt contract. Our results generalize if the output distribution is … “close” to multiplicatively separable. Our model suggests that offering a single contract may be optimal in environments with …

information. This strategy affects the properties of the optimal contract, which grows closer to the first best. This research …