The European Commission has launched the Regulation Proposal on a Common European Sales Law as an optional instrument for European firms and consumers. Several critical opinions have been raised against the optional nature, characterizing it as an instrument for social dumping (i. e. lowering...

In Roman law, manifest theft (essentially, one in which a thief was caught in the act) was punished with a more severe penalty than non-manifest theft. This legal policy seems to contradict the economic theory of efficient deterrence. In this paper, we try to explore how economic analysis of...