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"The efficiency of common law rules is central to achieving efficient resource allocation in a market economy. While many theories suggest reasons why judge-made law should tend toward efficient rules, the question whether the common law actually does converge in commercial areas has remained...
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The efficiency of common law rules is central to achieving efficient resource allocation in a market economy. While many theories suggest reasons why judge-made law should tend toward efficient rules, the question whether the common law actually does converge in commercial areas has remained...
Persistent link: https://www.econbiz.de/10012724734
The efficiency of common law rules is central to achieving efficient resource allocation in a market economy. While many theories suggest reasons why judge-made law should tend toward efficient rules, the question whether the common law actually does converge in commercial areas has remained...
Persistent link: https://www.econbiz.de/10012772379
Biographical note: LandesWilliam M.: William M. Landes is the Clifton R. Musser Professor Emeritus of Law and Economics at the University of Chicago Law School.PosnerRichard A.: Richard A. Posner is Circuit Judge, the United States Court of Appeals for the Seventh Circuit, and a senior lecturer...
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