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This chapter surveys major issues arising in the economic analysis of contract law. It begins with an introductory … law of contracts. These divisions include freedom of contract (the extent of private power to create binding obligations …), formation of contracts (the procedural mechanics of exchange, and the rules that govern pre-contractual behavior), contract …
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We provide a synthesis of the theoretical models that study the use of escape clauses, also known as safeguards, in multilateral and preferential trade agreements. We consider models that explain this type of flexibility based on economic efficiency, political economy shocks, and...
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