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Economic Evidence in EU Competition Law
  • Language: en

Economic Evidence in EU Competition Law

  • Type: Book
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  • Published: 2016
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  • Publisher: Unknown

This edited volume addresses the importance, implications, practices, problems and the role of economic evidence in EU competition law. It includes contributions on the use of the economic approach in the application and enforcement of EU competition law in different EU countries, candidate member states and third countries.

Economic Analysis of the DCFR
  • Language: en
  • Pages: 345

Economic Analysis of the DCFR

  • Categories: Law

The Economic Impact Group (EIG) was created to support the work on the DCFR with insights from law and economics. It brings together a number of leading European law and economics scholars. The Group looked at the main elements of the DCFR with two questions in mind: from an economic perspective, is it sensible to harmonize private law across Europe for this specific element, and is the solution chosen in the DCFR optimal? This book presents the outcome of the work of the EIG. It deals with key issues such as the function of contract law, contract formation, good faith, non-discrimination, specific performance versus damages, standard contractual terms and consumer protection in contract law. The EIG complements the work of the drafters of the DCFR with insightful and critical assessments, based on the well-established law and economics literature.

An Economic Analysis of Employment Law
  • Language: en
  • Pages: 288

An Economic Analysis of Employment Law

  • Categories: Law

This book offers an economic analysis of contract law as it is applied to employment relationships. Its goal is to analyse whether the specific rules of employment law can be considered as efficiency-enhancing by minimizing transaction costs and correcting market failures. It is argued that an efficiency case can be made for safety and health regulation, rules that impose inquiry limits in the solicitation stage, specific rules that govern the modification and termination of the employment contract and for the regulation of the covenant not to compete. The book also proposes some specific instances in which rules of both Dutch and US employment law could be modified to reflect the improvements offered by efficiency analysis.

The Role of Information Deficiencies in Contract Enforcement
  • Language: en

The Role of Information Deficiencies in Contract Enforcement

  • Type: Book
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  • Published: 2010
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  • Publisher: Unknown

Information deficiencies play an important role in contract enforcement. Courts frequently refuse to enforce contractual terms when one of the parties lacks information. The difficult question is where the line is drawn (or should be drawn) between information deficiencies of which the law will take account and those which it will disregard. This article sets out the economic framework for determining when it is appropriate to shift responsibility for information deficiencies from one contracting party to the other. The overriding objective from an economic perspective is to ensure that the party who can produce and reveal information at least cost produces the optimal amount of honest infor...

Law and Economics of Regulation
  • Language: en
  • Pages: 327

Law and Economics of Regulation

  • Categories: Law

This book explores current issues regarding the regulation of various economic sectors, theoretically and empirically, discussing both neoclassical and behavioural economics approaches to regulation. Regulation has become one of the main determinants of modern economies, and virtually every sector is subject to general laws and regulations as well as specific rules and standards. A traditional argument to justify regulatory interventions is the promotion of public interests. Fixing markets that lack competition, balancing information asymmetries, internalising externalities, mitigating systemic risks, and protecting consumers from irrational behaviour are frequently invoked to complement the...

Equity, Efficiency, and Ethics in Remedies for Breach of Contract
  • Language: en
  • Pages: 241

Equity, Efficiency, and Ethics in Remedies for Breach of Contract

  • Categories: Law

This book analyzes the conflict that emerges between parties after a breach of contract and how different legal remedies can best reduce conflict. Causes for conflict include equity, efficiency, and ethical reasons that parties might consider and use to blame the other or to justify breach. In the end, if not resolved through apologies or renegotiation, conflict leads to aggrievement and behavioral reactions in form of retaliation by the victim against the promisor in breach. The book provides empirical evidence from laboratory experiments for how individuals react to perceived wrongful acts such as breach of contract and for the function of legal remedies to reduce retaliation by disappoint...

Contract Law and Economics
  • Language: en
  • Pages: 497

Contract Law and Economics

  • Categories: Law

This unique and timely book offers an up-to-date, clear and comprehensive review of the economic literature on contract law. The topical chapters written by leading international scholars include: precontractual liability, misrepresentation, duress, gratuitous promises, gifts, standard form contracts, interpretation, contract remedies, penalty clauses, impracticability and foreseeability. Option contracts, warranties, long-term contracts, marriage contracts, franchise contracts, quasi-contracts, behavioral approaches, and civil contract law are also discussed. This excellent resource on contract law and economics will be particularly suited to contract law scholars, law teachers, policy makers, and judges. For experts in and practitioners of contract law this will be a key book to buy.

The Expectation Measure, Labor Contracts, and the Incentive to Work Hard
  • Language: en

The Expectation Measure, Labor Contracts, and the Incentive to Work Hard

  • Type: Book
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  • Published: 2011
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  • Publisher: Unknown

Under American or Dutch law, employees who leave the firm earlier than expected do not have to compensate the employer for lost profits in most cases. This conflicts with the general view in law and economics scholarship that the expectation measure is the superior remedy. We argue that the promisee (the employer) should not be awarded compensation for lost expected profits if the promisor (the employee) can vary his level of effort, which is a typical feature of labor contracts. The ex post expectation measure undermines the incentives to work hard (i.e., above the defined minimum level) because the higher the employee's productivity, the higher the expected lost profits for the employer in...

Judgement-Proof Robots and Artificial Intelligence
  • Language: en
  • Pages: 159

Judgement-Proof Robots and Artificial Intelligence

This book addresses the role of public policy in regulating the autonomous artificial intelligence and related civil liability for damage caused by the robots (and any form of artificial intelligence). It is a very timely book, focusing on the consequences of judgment proofness of autonomous decision-making on tort law, risk and safety regulation, and the incentives stemming from these. This book is extremely important as regulatory endeavours concerning AI are in their infancy at most, whereas the industry’s development is continuing in a strong way. It is an important scientific contribution that will bring scientific objectivity to a, to date, very one-sided academic treatment of legal scholarship on AI.

Consumer Law and Economics
  • Language: en
  • Pages: 326

Consumer Law and Economics

  • Categories: Law

This edited volume covers the challenges currently faced by consumer law in Europe and the United States, ranging from fundamental theoretical questions, such as what goals consumer law should pursue, to practical questions raised by disclosure requirements, the General Data Protection Regulation and technology advancements. With governments around the world enacting powerful new regulations concerning consumers, consumer law has become an important topic in the economic analysis of law. Intended to protect consumers, these regulations typically seek to do so by giving them tools to make better decisions, or by limiting the consequences of their bad decisions. Legal scholars are divided, however, regarding the efficacy and effects of these regulations; some call for certain policies to be abolished, while others support a regulatory expansion.