Economic Analysis of Contract Law

Focusing on economic analysis, this book delves into contract law, particularly the challenges of incomplete contracts. It evaluates how legal rules and institutions impact economic exchange and assesses the welfare effects of various breach remedies. The text explores the optimal incentive structures for liquidated damages while considering informational asymmetry. Additionally, it contributes to discussions on breach remedies and the hesitance of courts to impose significant penalties when assessing breach victims' expectation interests proves difficult.