This chapter discusses the challenges of determining appropriate remedies in cases involving animals with a focus on companion animals. Damages fall into one of two categories: substitutionary relief, which is based on the value of loss of the animal, and specific relief, which “seeks to...

This article was prepared as a contribution to the Chapman Law Review's symposium on “Libertarian Legal Theory.” While libertarian legal theory and law and economics share many affinities there are places in which both the method of the common law and the substantive rules of the common law...

The fusion of law and equity in common law systems was a crucial moment in the development of modern Anglo-American law, with implications for the procedural, substantive and remedial aspects of law. This paper will introduce a volume of essays in which scholars undertake historical,...

Courts assessing compensatory damages awards often lack adequate information to determine the value of a victim's loss. A central reason for this problem, which the literature has thus far overlooked, is that courts face a dilemma when applying their standard information-forcing tool to the...

On what grounds are private law remedies awarded? This question has received surprisingly little attention from legal scholars. Although the circumstances in which particular kinds of remedies are awarded have been discussed in detail, there have been few attempts to draw general principles from...

Law and economics has had a significant impact on foundational private law subjects — property, contracts, and torts — as well as advanced private law areas. This chapter analyzes how law and economics influences private law and how New Private Law (NPL) is influencing law and...

This chapter restates the economic theory of fiduciary law, making several fresh contributions. First, it elaborates on earlier work by clarifying the agency problem that is at the core of all fiduciary relationships. In consequence of this common economic structure, there is a common doctrinal...

In a full-information, zero transactions costs world, the degree of protection afforded to an entitlement does not affect the likelihood of efficient trade. In reality, imperfect information is often inevitable. Specifically, a party will usually have incomplete information about fairness norms...

In a full-information, zero transactions costs world, the degree of protection afforded to an entitlement does not affect the likelihood of efficient trade. In reality, imperfect information is often inevitable. Specifically, a party will usually have incomplete information about fairness norms...