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Open Access. Powered by Scholars. Published by Universities.®

2008

Law and economics

Selected Works

Articles 1 - 3 of 3

Full-Text Articles in Law

A Positive Theory Of Eminent Domain, Eric Kades Mar 2008

A Positive Theory Of Eminent Domain, Eric Kades

Eric A. Kades

By examining a novel data set of land acquisitions and condemnations for roads by all 50 states, this article attempts to formulate a positive theory of states’ invocation of their eminent domain power. Litigation models based on irrationality and asymmetric information suggest that geography, demography, and legal rules may influence the frequency with which state officials resort to condemnation. To a significant degree, the data support these models, as water area and hilliness (geography), population density (demography), and legal rules (fee-shifting statutes) explain a significant portion of the state-state variation in condemnation rates. A number of other theoretically relevant explanatory …

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A "Fair Contracts" Approval Mechanism: Reconciling Consumer Contracts And Conventional Contract Law, Shmuel I. Becher Feb 2008

A "Fair Contracts" Approval Mechanism: Reconciling Consumer Contracts And Conventional Contract Law, Shmuel I. Becher

Shmuel I Becher

Consumer contracts diverge from the traditional paradigm of contract law in various conspicuous ways. They are pre-drafted by one party; they cannot be altered or negotiated; they are executed between unfamiliar contracting parties unequal in their market power and sophistication; they are offered frequently by agents who act on behalf of the seller; and promisees (i.e., consumers) do not read or understand them. Consumer contracts are thus useful in modern markets of mass production, but they cast doubt on some fundamental notions of contract law. To reframe the long-lasting debate over consumer contracts this Article develops a superior legal regime …

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E-J. Mestmäcker: A Legal Theory Without Law (Book Review), Péter Cserne Dec 2007

E-J. Mestmäcker: A Legal Theory Without Law (Book Review), Péter Cserne

Péter Cserne

This is a book review of Ernst-Joachim Mestmäcker's A Legal Theory without Law: Ponser v. Hayek on Economic Analysis of Law (Tübingen: Mohr 2007)

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