Readings in the Economics of Contract Law (Paperback)

Part 1. Some Preliminaries: 1. Non-contractual relations in business: a preliminary study Stewart Macaulay; 2. Relational exchange: economics and complex contracts Victor P. Goldberg; 3. Production functions, transactions costs, and the new institutionalism Victor P. Goldberg; 4. The market for 'lemons': quality uncertainty and the market mechanism George A. Akerlof; 5. A treatise on the law of marine insurance and general average, volume 1 Theophilus Parsons; 6. The economics of moral hazard: comment Mark V. Pauly; 7. The economics of moral hazard: further comment Kenneth J. Arrow; 8. Efficient rent seeking Gordon Tullock; Questions and notes on rent seeking; Part II. Contract Law and the Least Cost Avoider: 9. Unity in tort, contract, and property: the model of precaution Robert Cooter; 10. The mitigation principle: toward a general theory of contractual obligation (1) Charles J. Goetz and Robert E. Scott; 11. Relational exchange, contract law and the Boomer problem (1) Victor P. Goldberg; Questions and notes on the least cost avoider; Part III. The Expectation Interest, the Reliance Interest and Consequential Damages: A. Property in Price; 12. The reliance interest in contract damages Lon Fuller and William Perdue; 13. Note on price information and enforcement of the expectation interest Victor P. Goldberg; Questions and notes on protecting the property interest in the price; B. Reliance and Consequential Damages; 14. The contract-tort boundary and the economics of insurance William Bishop; 15. Notes on the reliance interest Robert Birmingham; Questions and notes on fault, consequential damages and reliance; Part IV. The Lost-Volume Seller Puzzle: 16. An economic analysis of the lost-volume retail seller Victor P. Goldberg; Questions and notes on the seller's lost profits; Part V. Specific Performance and the Cost of Completion: 17. The choice of remedy for breach of contract William Bishop; 18. Relational exchange, contract law and the Boomer problem Victor P. Goldberg; 19. Cost of completion or diminution in market value: the relevance of subjective value Timothy J. Muris; Questions and notes on specific performance and cost of completion; Part VI. Power, Governance and the Penalty Clause Puzzle: 20. Transaction cost determinants of 'unfair' contractual arrangements Benjamin Klein; 21. A relational exchange perspective on the employment relationship Victor P. Goldberg; 22. Liquidated damages versus penalties: sense or nonsense? Kenneth W. Clarkson, Rober Leroy Miller and Timothy J. Muris; 23. Further thoughts on penalty clauses Victor P. Goldberg; Questions and notes on power and penalty clauses; Part VII. Standard Forms and Warranties: 24. Institutional change and the quasi-invisible hand Victor P. Goldberg; 25. A theory of the consumer product warranty George L. Priest; Questions and notes on warranties; Part VIII. Duress, Preexisting Duty and Good Faith Modification: 26. Duress by economic pressure John Dalzell; 27. Gratuitous promises in economics and law Richard A. Posner; 28. The mitigation principle: toward a general theory of contractual obligation Charles J. Goetz and Robert E. Scott; 29. The law of contract modifications: the uncertain quest for a benchmark of enforceability Varouj A. Aivazian, Michael J. Trebilcock and Michael Penny; Questions and notes on duress; Part IX. Impossibility, Related Doctrines and Price Adjustment: 30. Impossibility and related doctrines in contract law: an economic analysis Richard A. Posner and Andrew M. Rosenfield; 31. Impossibility and related excuses Victor P. Goldberg; 32. Price adjustment in long-term contracts Victor P. Goldberg; Questions and notes on impossibility and price adjustment; References; Indexes.