This paper investigates the existing Italian regulation regarding the so-called "administration by agreements" and the possibility to adapt the existing legal system to voluntary agreements in the environmental field in the light of the European guidelines on this issue. The research consists of...

Die Treuhandidee steht allgemein für ein juristisches Konstrukt des Eigentums, das dem Treuhänder nach außen die volle Rechtsstellung eines Eigentümers verleiht, ihm im Innenverhältnis zum Treugeber jedoch mehr oder weniger starker Beschränkung unterwirft. In (Ost-)Deutschland erlebte...

The legal notion of damages requires to compare the actual value of the creditor's assets with the hypothetical value that would have prevailed if the debtor had met his obligation. Moreover, values and causation may be uncertain. If nature's contribution is modelled as a random move then the...

The acquisition of information prior to sale gives rise to a hold-up situation quite naturally. Yet, while the bulk of the literature on the hold-up problem considers negotiations under symmetric information where cooperative short-cuts such as split the difference capture the outcome of...

The present paper examines an injurer causing a temporary blackout to a firm as the primary victim but also affecting customers and competitors of the firm. Reflecting existing legal practice, the paper investigates efficiency properties of the negligence rule granting recovery of private losses...

This paper deals with legal damages if losses of chances are at stake. In response to disparate ad hoc rules that have emerged from legal practice in Europe, the present paper proposes a unifying principle to handle such cases. Quite generally, the purpose of a damages award is to compensate the...

This paper shows that the provision of consumer rights can decrease welfare when some consumers remain ignorant of these rights. We find that consumers uninformed about a mandated warranty demand excessively safe products in some circumstances. In other circumstances, uninformed consumers buy...