Overview
- Offers a comprehensive analysis of the efficient breach scenario
- Explains the impact of asymmetric information, market structure and behavioral economics on the effects of different remedies for breach of contract
- Reveals the complexity of comparison between remedies for breach of contract under realistic conditions
Part of the book series: International Law and Economics (ILEC)
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Table of contents (8 chapters)
Keywords
About this book
The author compares the two predominant remedies for breach of contract which have been adopted by most jurisdictions and also found access to international conventions like the Convention on Contracts for the International Sale of Goods (CiSG): Specific performance and expectation damages. The book illustrates the complexity such a comparison has under more realistic assumptions. The author shows that no simple answer is possible, but one needs to account for the circumstances. The comparison takes an economic approach to law applying game theory. The game-theoretic models are consistent throughout the entire book which makes it easy for the reader to understand what effects different assumptions about the market structure, the distribution of information, and deviations from the rational choice model have, and how they are intertwined.
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Bibliographic Information
Book Title: Breach of Contract
Book Subtitle: An Economic Analysis of the Efficient Breach Scenario
Authors: Oliver Hofmann
Series Title: International Law and Economics
DOI: https://doi.org/10.1007/978-3-030-62525-2
Publisher: Springer Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
Hardcover ISBN: 978-3-030-62524-5Published: 12 February 2021
Softcover ISBN: 978-3-030-62527-6Published: 12 February 2022
eBook ISBN: 978-3-030-62525-2Published: 11 February 2021
Series ISSN: 2364-1851
Series E-ISSN: 2364-186X
Edition Number: 1
Number of Pages: VII, 268
Number of Illustrations: 54 b/w illustrations, 13 illustrations in colour
Topics: Law and Economics, Common Contract Law, Behavioral/Experimental Economics, Game Theory, Economics, Social and Behav. Sciences, International Economic Law, Trade Law, Civil Law