"The law-and-economics movement remains a dominant force in American private law, despite widespread recognition that many of its assumptions are implausible and that efficiency is not the law's only goal. This book adds to the debate by showing that many leading law-and-economics arguments fail...

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

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...