Market regulation has traditionally focused on disclosure duties — yet mounting evidence questions their effectiveness. The efficacy of nudges is similarly doubted, especially when suppliers counter their effects. Consequently, there is growing interest in mandatory regulation of the content...

Legal economists and other theoreticians continuously debate the pros and cons of specific performance as a remedy for breach of contract; and comparative-law scholars debate the extent to which legal systems actually diverge on this issue. Very few studies have used qualitative methods,...

The threat of sanctions is often insufficient to ensure compliance with legal norms. Recently, much attention has been given to nudges as a means to influence behavior without sanctions; but nudges are often ineffective and controversial. This Article explores the provision of information about...

In recent years, numerous empirical studies have examined the prevailing attitudes toward nudges, but hardly any have examined the prevailing attitudes toward mandatory rules. To fill this gap, this article describes five studies (N=3,103)—mostly preregistered studies conducted with...

The law often lays down mandatory rules, from which the parties may deviate in favor of one party but not the other. Examples include the invalidation of high liquidated damages and the unenforceability of excessive non-compete clauses in employment contracts. In these cases, the law may...