N problems require N instruments

Gerrit De Geest

International Review of Law and Economics, 2013, vol. 35, issue C, 42-57

Abstract: Eric Posner (2003) has argued that (contract) law and economics has failed to produce clear policy recommendations because its theoretical results are usually inconclusive and empirical data on the parameters are usually unavailable. Legislators and courts, however, cannot wait to make decisions until scholarship is conclusive; hence the question arises which policy conclusions are the ‘least irrational’ under those circumstances.

Keywords: Indeterminacy; Contract remedies; Specific performance; Expectation measure; Tinbergen (search for similar items in EconPapers)
JEL-codes: K00 K12 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:eee:irlaec:v:35:y:2013:i:c:p:42-57

DOI: 10.1016/j.irle.2013.02.001

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