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Standard Contract Clauses As Public Goods: A New Way Of Understanding Inefficient Clauses, Enrico Baffi
Standard Contract Clauses As Public Goods: A New Way Of Understanding Inefficient Clauses, Enrico Baffi
enrico baffi
The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …
Standard Contract Clauses As Public Goods: A New Approach, Enrico Baffi
Standard Contract Clauses As Public Goods: A New Approach, Enrico Baffi
enrico baffi
The aim of this work is to show how it is possible to identify market failures other than those traditionally identified by lawyers and law and economics scholars to justify the mandatory provisions of contracts between professionals and consumers and the equally mandatory provisions governing the abuse of economic dependency. This is a new approach that can be extended to other provisions and appears to rest on fairly solid microeconomic foundations. There is no doubt, however, that many criticisms can be leveled against it. Very briefly, I shall argue that the production of clauses characterized by being rather vague, indeterminate …
The Anticommons And The Problem Of Numerus Clausus Of Property Rights, Enrico Baffi
The Anticommons And The Problem Of Numerus Clausus Of Property Rights, Enrico Baffi
enrico baffi
In the academic literature there the idea that revolutionary French lawmakers wanted to encourage the circulation of goods by limiting the possibility of creating property rights, thus reacting to the risk that the high transaction costs necessary to make several people reach an agreement would compromise the transfer of goods to a different use (and to a different owner). The so-called "theory of the anticommons" is the legal and economic development of this idea. But law and economics in recent years have led to the identification of further explanations, in terms of economic efficiency, of the principle of the numerus …