Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
The New Institutionalism In Contract Scholarship, Robert E. Scott
The New Institutionalism In Contract Scholarship, Robert E. Scott
Faculty Scholarship
Relational contract scholarship is at a pivot point. On the one hand, the relationalist revival that has dominated contracts scholarship for almost half a century may be on the wane. Relational contract scholarship has evolved during this period into separate, and often dueling, intellectual traditions. One camp consists of scholars who are typically associated with the “law and economics” movement; in the other camp are scholars who more readily identify with the “law and society” tradition. While relationalists have been quarreling with each other, a younger cohort of law and economics scholars, armed with impressive technical skills, have abandoned relational …
Contract And Innovation: The Limited Role Of Generalist Courts In The Evolution Of Novel Contractual Forms, Ronald J. Gilson, Charles F. Sabel, Robert E. Scott
Contract And Innovation: The Limited Role Of Generalist Courts In The Evolution Of Novel Contractual Forms, Ronald J. Gilson, Charles F. Sabel, Robert E. Scott
Faculty Scholarship
In developing a contractual response to changes in the economic environment, parties choose the method by which their innovation will be adapted to the particulars of their context. These choices are driven centrally by the thickness of the relevant market – the number of actors who see themselves as facing similar circumstances – and the uncertainty related to that market. In turn, the parties' choice of method will shape how generalist courts can best support the parties' innovation and the novel regimes they envision. In this Article, we argue that contractual innovation does not come to courts incrementally, but instead …