The EU General Data Protection Regulation (GDPR) of 2018 introduced stringent transparency rules compelling firms to disclose, in accessible language, details of their data collection, processing, and use. The specifics of the disclosure requirement are objective, and its compliance is easily...

The starting point of the theory of contracts coincides with the Roman era, but the moment related to the strengthening of the contract theory is the "social contract". Another episode relevant to this theory is represented by the trend "institutionalism". The institutional value has...

This paper is the outcome of a related broader project, exploring the explanatory power of the Legal Theory of Finance, which proposes a new institution-based analytical framework for the analysis of phenomena of financial markets. One of its most important theoretical assumptions, the legal...

Past research has shown that online information notices often fail to inform consumers well, even if transparency-enhancing measures are implemented. However, the studies in question have employed research designs that were restricted to pre-contract conclusion scenarios and ad hoc, text-only...

This paper is the national report for Germany prepared for the to the 20th General Congress of the International Academy of Comparative Law 2018 and gives an overview of the regulation of crowdfunding in Germany and the typical design of crowdfunding campaigns under this legal framework. After a...

The contractual imbalance is based on two different types of causes: either the inequality of the contractual partners (uncommon clauses and lesion), or the occurrence, throughout the performance of the contract, of certain events that make such performance extremely onerous, according to the...

This paper seeks to situate an understanding of the long-term implications of Smart Contract (SC) technologies as a cluster of technologies that together with AI (shorthand for software applications) and 5G (shorthand for networked ICTs) will prove important for enabling a future wherein any...

This paper surveys recent economic and legal literature on sovereign debt in light of the COVID-19 shock. Most of the core theoretical contributions we review across the two disciplines hinge on immunity, and the sovereign borrower's consequent inability to commit to repay foreign creditors, as...

Search costs for lenders when evaluating potential borrowers are driven by the quality of the underwriting model and by access to data. Both have undergone radical change over the last years, due to the advent of big data and machine learning. For some, this holds the promise of inclusion and...