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N problems require N instruments

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  • De Geest, Gerrit

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.

Suggested Citation

  • De Geest, Gerrit, 2013. "N problems require N instruments," International Review of Law and Economics, Elsevier, vol. 35(C), pages 42-57.
    • Handle: RePEc:eee:irlaec:v:35:y:2013:i:c:p:42-57
    DOI: 10.1016/j.irle.2013.02.001
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    References listed on IDEAS

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    1. Giuseppe Dari-Mattiacci & Gerrit De Geest, 2005. "The Filtering Effect of Sharing Rules," The Journal of Legal Studies, University of Chicago Press, vol. 34(1), pages 207-237, January.
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    More about this item

    Keywords

    Indeterminacy; Contract remedies; Specific performance; Expectation measure; Tinbergen;
    All these keywords.

    JEL classification:

    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law

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