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Economic Analysis of Contract Law
Shavell, Steven - 2021
Contract law governs agreements between parties. This paper contains the chapters on contract law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, 2003). Chapter 13 presents an overview of the subject. Chapter 14 is concerned with contract...
Persistent link: https://www.econbiz.de/10013221277
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Risk Sharing Through Breach of Contract Remedies
Polinsky, A. Mitchell - 2021
This paper examines the sharing of risk under three different remedies for breach of contract. The risk considered arises from the possibility that, after a seller and buyer have entered into an agreement for the exchange of some (not generally available) good, a third party who values the good...
Persistent link: https://www.econbiz.de/10013223596
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Public Contracting for Private Innovation : Government Expertise, Decision Rights, and Performance Outcomes
Bruce, Joshua R. - 2018
We examine how the U.S. Federal Government governs R&D contracts with private-sector firms. The government chooses between two contractual forms: grants and cooperative agreements. The latter provides the government substantially greater discretion over, and monitoring of, project progress....
Persistent link: https://www.econbiz.de/10012916603
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Economic Analysis of Accident Law
Shavell, Steven - 2012
Accident law is the body of legal rules governing the ability of victims of harm to sue and to collect payments from those who injured them. This paper contains the chapters on accident law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press,...
Persistent link: https://www.econbiz.de/10013105846
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Optimal Liability for Terrorism
Lakdawalla, Darius N. - 2007
This paper analyzes the normative role for civil liability in aligning terrorism precaution incentives, when the perpetrators of terrorism are unreachable by courts or regulators. We consider the strategic interaction among targets, subsidiary victims, and terrorists within a sequential,...
Persistent link: https://www.econbiz.de/10012778272
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The Law and Economics of Antidiscrimination Law
Donohue, John J. - 2006
This essay provides an overview of the central theoretical law and economics insights concerning antidiscrimination law across a variety of contexts including discrimination in labor markets, housing markets, consumer purchases, and policing. The different models of discrimination based on...
Persistent link: https://www.econbiz.de/10012783666
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On Optimal Legal Change, Past Behavior, and Grandfathering
Shavell, Steven - 2010
When is it socially advantageous for legal rules to be changed in the light of altered circumstances? In answering this basic question here, a simple point is developed -- that past compliance with legal rules tends to reduce the social advantages of legal change. The reasons are twofold:...
Persistent link: https://www.econbiz.de/10012759741
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Economic Analysis of Law
Kaplow, Louis - 2010
This is a survey of the field of economic analysis of law, focusing on the work of economists. The survey covers the three central areas of civil law liability for accidents (tort law), property law, and contracts as well as the litigation process and public enforcement of law
Persistent link: https://www.econbiz.de/10012763597
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The Economic Theory of Public Enforcement of Law
Polinsky, A. Mitchell; Shavell, Steven - 2021
This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors …, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory … examine a variety of extensions of the central theory, concerning accidental harms, costs of imposing fines, errors, general …
Persistent link: https://www.econbiz.de/10013216494
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Legal Origins
Glaeser, Edward L.; Shleifer, Andrei - 2021
A central requirement in the design of a legal system is the protection of law enforcers from coercion by litigants through either violence or bribes. The higher the risk of coercion, the greater the need for protection and control of law enforcers by the state. This perspective explains why, in...
Persistent link: https://www.econbiz.de/10013216846