Bakos, Yannis; Marotta-Wurgler, Florencia; Trossen, David R. - In: The Journal of Legal Studies 43 (2014) 1, pp. 1-1
A cornerstone of the law and economics approach to standard-form contracts is the informed-minority hypothesis: in competitive markets, a minority of term-conscious buyers is sufficient to discipline sellers from using unfavorable boilerplate terms. This argument is often invoked to limit...