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| Author | : Hanoch Dagan |
| Publisher | : Cambridge University Press |
| Total Pages | : 195 |
| Release | : 2017-04-17 |
| Genre | : Law |
| ISBN | : 1107135982 |
The Choice Theory of Contracts is an engaging landmark that shows, for the first time, how freedom matters to contract.
| Author | : Peter Benson |
| Publisher | : Harvard University Press |
| Total Pages | : 625 |
| Release | : 2019-12-03 |
| Genre | : Law |
| ISBN | : 0674237595 |
Legal thinkers typically justify contract law on the basis of economics or promissory morality. But Peter Benson takes another approach. He argues that contract is best explained as a transfer of rights governed by a conception of justice. The result is a comprehensive theory of contract law congruent with Rawlsian liberalism.
| Author | : Michael Allingham |
| Publisher | : OUP Oxford |
| Total Pages | : 144 |
| Release | : 2002-08-22 |
| Genre | : Business & Economics |
| ISBN | : 0191579262 |
We make choices all the time - about trivial matters, about how to spend our money, about how to spend our time, about what to do with our lives. And we are also constantly judging the decisions other people make as rational or irrational. But what kind of criteria are we applying when we say that a choice is rational? What guides our own choices, especially in cases where we don't have complete information about the outcomes? What strategies should be applied in making decisions which affect a lot of people, as in the case of government policy? This book explores what it means to be rational in all these contexts. It introduces ideas from economics, philosophy, and other areas, showing how the theory applies to decisions in everyday life, and to particular situations such as gambling and the allocation of resources. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
| Author | : Stefan Grundmann |
| Publisher | : Oxford University Press |
| Total Pages | : 353 |
| Release | : 2021-01-14 |
| Genre | : Law |
| ISBN | : 0192608274 |
Choice is a key concept of our time. It is a foundational mechanism for every legal order in societies that are, politically, constituted as democracies and, economically, built on the market mechanism. Thus, choice can be understood as an atomic structure that grounds core societal processes. In recent years, however, the debate over the right way to theorize choice - for example, as a rational or a behavioral type of decision making - has intensified. This collection provides an in-depth discussion of the promises and perils of specific types of theories of choice. It shows how the selection of a specific theory of choice can make a difference for concrete legal questions, in particular in the regulation of the digital economy or in choosing between market, firm, or network. In its first part, the volume provides an accessible overview of the current debates about rational versus behavioral approaches to theories of choice. The remainder of the book structures the vast landscape of theories of choice along with three main types: individual, collective, and organizational decision making. As theories of choice proliferate and become ever more sophisticated, however, the process of choosing an adequate theory of choice becomes increasingly intricate. This volume addresses this selection problem for the various legal arenas in which individual, organizational, and collective decisions matter. By drawing on economic, technological, political, and legal points of view, the volume shows which theories of choice are at the disposal of the legally relevant decision-maker, and how they can be operationalized for the solution of concrete legal problems. The editors acknowledge the kind support of the Fritz Thyssen Foundation for an exploratory conference on the subject of the book.
| Author | : Patrick Bolton |
| Publisher | : MIT Press |
| Total Pages | : 746 |
| Release | : 2004-12-10 |
| Genre | : Business & Economics |
| ISBN | : 9780262025768 |
A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas. Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It also presents many applications in all areas of economics, especially labor economics, industrial organization, and corporate finance. The book emphasizes applications rather than general theorems while providing self-contained, intuitive treatment of the simple models analyzed. In this way, it can also serve as a reference for researchers interested in building contract-theoretic models in applied contexts.The book covers all the major topics in contract theory taught in most graduate courses. It begins by discussing such basic ideas in incentive and information theory as screening, signaling, and moral hazard. Subsequent sections treat multilateral contracting with private information or hidden actions, covering auction theory, bilateral trade under private information, and the theory of the internal organization of firms; long-term contracts with private information or hidden actions; and incomplete contracts, the theory of ownership and control, and contracting with externalities. Each chapter ends with a guide to the relevant literature. Exercises appear in a separate chapter at the end of the book.
| Author | : W. Bentley MacLeod |
| Publisher | : MIT Press |
| Total Pages | : 417 |
| Release | : 2022-04-05 |
| Genre | : Business & Economics |
| ISBN | : 0262046873 |
A graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.
| Author | : Jerry S. Kelly |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 174 |
| Release | : 2013-03-09 |
| Genre | : Business & Economics |
| ISBN | : 366209925X |
This is a textbook introducing selected topics in formal social choice theory. Social choice theory studies group choices that are based on information about preferences of members of the group (voting rules being one important special case). This involves economics, which provides the method of modelling individual decision making; political philosophy, which provides criteria about the allocation of decision-influencing power; and game theory, which provides a framework for thinking about the strategies individuals employ in trying to influence the group choice. The goal of this book is to take basic ideas like impossibility theorems, rights exercising and strategy proofness and give the student just enough technical background to be able to understand these ideas in a logically rigorous way. This is done through a set of 250 exercises that constitute the heart of the book and which differentiate this book from all other texts in social choice theory.
| Author | : Eric Brousseau |
| Publisher | : Cambridge University Press |
| Total Pages | : 604 |
| Release | : 2002-10-17 |
| Genre | : Business & Economics |
| ISBN | : 9780521893138 |
A 2002 survey of economics of contracts appealing to scholars in economics, management and law.
| Author | : Charles Fried |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 220 |
| Release | : 2015 |
| Genre | : Business & Economics |
| ISBN | : 0190240164 |
'Contract as Promise' is a study of the foundations and structure of contract law. It has both theoretical and pedagogic purposes. It moves from trust to promise to the nuts and bolts of contract law. The author shows that contract law has an underlying unifying moral and practical structure. This second edition retains the original text, and includes a new Preface. It also includes a lengthy postscript that takes account of scholarly and practical developments in the field over the last thirty years, especially the large and rich law and economics literature.
| Author | : N. W. Barber |
| Publisher | : Oxford University Press |
| Total Pages | : 340 |
| Release | : 2018-07-26 |
| Genre | : Law |
| ISBN | : 0192535684 |
In this follow-up volume to the critically acclaimed The Constitutional State, N. W. Barber explores how the principles of constitutionalism structure and influence successful states. Constitutionalism is not exclusively a mechanism to limit state powers. An attractive and satisfying account of constitutionalism, and, by derivation, of the state, can only be reached if the principles of constitutionalism are seen as interlocking parts of a broader doctrine. This holistic study of the relationship between the constitutional state and its central principles - sovereignty; the separation of powers; the rule of law; subsidiarity; democracy; and civil society - casts light on long-standing debates over the meaning and implications of constitutionalism. The book provides a concise introduction to constitutionalism and a detailed account of the nature and implications of each of the principles in question. It concludes with an examination of the importance of constitutional principles to the work of judges, legislators, and others involved in the operation and creation of the constitution. The book is essential reading for those seeking a definitive account of constitutionalism and its benefits.
