Breach of Contract - An Economic Analysis of the Efficient Breach Scenario (Hardcover, 1st ed. 2021)

"Efficient breach" is one of the most discussed topics in the literature of law and economics. What remedy incentivizes the parties of a contract to perform contracts if and only if it is efficient? This book provides a new perception based on an in-depth analysis of the impact the market structure, asymmetry of information, and deviations from the rational choice model have, comprehensively. 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.

General

Imprint:	Springer Nature Switzerland AG
Country of origin:	Switzerland
Series:	International Law and Economics
Release date:	February 2021
First published:	2021
Authors:	Oliver Hofmann
Dimensions:	235 x 155mm (L x W)
Format:	Hardcover
Pages:	268
Edition:	1st ed. 2021
ISBN-13:	978-3-03-062524-5
Categories:	Books > Business & Economics > Economics > General Books > Law > Other areas of law > General Books > Law > Laws of other jurisdictions & general law > Private, property, family law > Contract law Books > Science & Mathematics > Mathematics > Optimization > Game theory Books > Law > International law > Public international law > International economic & trade law > General
LSN:	3-03-062524-9
Barcode:	9783030625245

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