The Economics of Contracts provides a guided tour to the leading ideas in contract theory. It assembles some of the foundational writings on contracting under limited and asymmetric information, incentives and mechanism design. It contains, in particular, the key contributions of five recent...

Well-functioning markets and contract law -- The moral consequences of well-functioning markets -- Contract law, efficiency, and morality -- Consideration -- Remedies -- Boilerplate -- Pernicious markets and the limits of contract law

Time to abandon use of terms 'reliance interest', 'reliance loss' and 'reliance damages' from language of law relating to damages for breach of contract - terms misleading in attempts to provide a readily comprehensible account of the law - can lead to unnecessarily complicated reasoning in...