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Encyclopedia of Law and Economics
Edited by Gerrit De Geest
The second, expanded edition of the acclaimed Encyclopedia represents a major
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Each theme or volume is overseen by a leading scholar and each of the 166 entries is prepared by an
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Index: Index
[In: Volume 6, Gerrit De Geest (ed) Contract Law and Economics]
- add-ons 417
- adhesion contracts see standard form contracts
- Adler, Barry E. 231–2, 236
- administrative control 285
- adverse selection 226
- agency costs and third-party interests 148–9
- agency problems 431
- Aghion, Phillipe, Mathias Dewatripont and Patrick Rey 291, 293, 295
- Aghion, Phillipe and Benjamin Hermalin 196–7
- Aghion, Phillipe and Patrick Bolton 193–5, 324–5
- Aivazian, Varouj A. 447
- Aivazian, Varouj A. et al. 73
- Akerlof, George A. 444
- Albert, Ross A. 458
- aleatory view of negotiations 9, 12, 24
- Allen, D.W. 377
- allocative efficiency 32, 34, 36, 42, 105, 156
- Almond 373
- alternative governance mechanisms 129, 146
- altruism see bequests, altruistic bequests
- ambiguity aversion 200
- anchoring 404
- Anglo-American theory of contract law 9, 80
- Anglo-Canadian law 80, 89, 91, 430
- Anglo-Saxon inheritance 106–7
- annulment of contract 440
- anticipatory repudiation 171
- arbitration 129, 146
- arbitration in franchise agreements 393
- Arlen, Jennifer 405, 408
- Arrondel, L. and A. Lafferère 108
- assets
- assumpsit 455
- asymmetric paternalism 411
- Attorney General v. Blake 466
- at-will termination 353
- at-will, franchise 392
- autonomous adaptation 285–286, 288
- Axiom of Unilateral Action 245–248
- Ayres, I. 197, 363, 371 see Rasmusen, E. and I. Ayres; Ayres, I. and G. Klass
- Ayres, I. and G. Klass 46
- Ayres, Ian and Robert Gertner 226–228, 232, 235–236
- bailout 296–7
- Baldus photographs case 439
- bargaining 249–50, 448
- bargaining power 16, 115–16
- bargaining, revolving-offer 292–3
- Bar-Gill, Oren 120, 230–31, 416–18
- Bar-Gill, Oren and Omri Ben-Shahar 63–4, 69, 71
- barriers to efficient contracts 156–7
- Bartholomew, J. 377
- Barton, John H. 158
- Basu, Kaushik 65
- Bates, T. 389
- Baumol, W.J. 302
- Beales, H. 36
- Beales, J. and T. Muris 351
- Bebchuk, L.A. and Omri Ben-Shahar 10, 12, 17, 19–20, 25, 27
- Bebchuk, L.A. and R.A. Posner 120
- Bebchuk, Lucian Ayre and Steven Shavell 226–228, 232
- Becher, Shmuel I. 122
- p. 472Becker, Gary S. 361
- Becker, Gerry 41 see legal deterrence, theory of
- Becker–Barro model 103
- behavioral approaches to contract law 401–21
- behavioral economics 401–21
- benefit-based liability 465
- Ben-Shahar, Omri 10, 18–19, 25, 40, 131, 144,
426
- see Bebchuck and Omri Ben-Shahar; Bar-Gill, Oren and Omri Ben-Shahar
- Ben-Shahar, Omri and J.J. White 121
- bequests
- Berglöf, E. and G. Roland 297
- Bergstrom, T.C. 108
- Bernheim, B. Douglas et al. 109
- Bernstein, Lisa 146
- best-efforts clause 125, 128, 184
- Betterment Acts 461
- bias 402, 404–406, 408, 410, 413, 416–19
- Bigelow, J. 266
- bilateral warranty problems 265–266, 268, 273
- Bishop, William 47, 165–166, 168
- Black-Widow effect 360, 369, 371–3
- Blair, R.D. and D.L. Kaserman 390
- Bohlen, F.H. 462
- boilerplate see standard form contracts
- Bolton, P. and M. Whinston 390
- Bolton, Patrick and Mathias Dewatripont 158
- bond, for franchise 392–4
- Bouckaert, B. and G. De Geest 67, 457, 463
- bounded rationality 64, 402–3, 409–10
- Bracewell-Milnes, Barry 104–5
- breach 315–16, 327, 335–336, 341–348, 455–67
- Brenner, Gabrielle 108
- Brickley, J.A. 385
- Brickley, J.A. and F.N. Dark 385
- Brickley, J.A., F.H. Dark, and M.S. Weisbach 351
- Brickley, J.A., S. Misra and L. Van Horn 352
- Bridge, M.G. 430
- Brinig, M.F. 374, 376
- Brown, J. 52
- Brownsword, R. 430
- Bruce, Christopher 212
- Buchanan, James and Gordon Tullock 104–5
- Buckley, F.H. 64, 66, 72–3, 442
- bundling 417
- Burrows, Andrew 225
- buy-backs, for franchise 385, 388–9
- Calabresi, G. 429
- Calabresi, G. and J.T. Hirschoff 459
- Calabresi, G. and D. Melamed 363, 429
- Calabresi, Guido and Douglas A. Melamed 68, 70
- calculating damages
- Camerer, C. 411
- Campbell, D. and D. Harris 466
- capital-market 384–5
- Carbone, J.R. and M.F. Brinig 371, 373
- Carroll Towing 455
- catchalls 127–128, 131
- cause for entering contract 442
- Caves, R.E. and W.F. Murphy 384
- Chandler v. Webster 219
- characteristics of contracting parties 143–4
- charity 89–90
- p. 473Charpentier, E.M. 429–30
- Che, Y.-K. and D.B. Hausch 244–246, 248
- Che, Yeun-Chu and Chung, Tai-Yeong 189
- Chiappori, P. 322
- Chronopost case 444
- Chu, Cyrus 108
- Chung, Tai-Yeong 189, 193
- civil law of contract 424–50
- civil liability 426
- classic bargain theory 9
- classic economic theory 432
- classical theory of contract 61
- clean break principle 365
- Coase, R.H. 283–4, 328, 336
- cognitive error 198–201
- cognitive psychology 401–21
- cohabitation 360–61, 375–7
- Cohen, George M. 10, 22, 125–51, 432
- Cohen, Lloyd 361–2
- commitment 320–22, 337–338
- common-law marriage 376
- Commons, John R. 282
- comparative institutional analysis 284
- competition 288, 297–298
- competitive equilibrium 258, 261
- complementary assets 287
- completeness of contracts 126–30, 331–3
- Conlisk, J. 407–408
- consensualism 434
- consent, defects of 434
- consequential damages 415
- consideration 80–83, 85–86, 90–94, 443
- constrained choice 62, 64
- consumer biases 416–17
- consumer choice, improvement 419
- consumer contracts 416
- consumer mistakes 417–18
- contextualism 131, 133–4, 136, 141–148
- contra proferentem 122, 138
- contracts
- annulment 440
- breach 455–63
- cause for entering 442
- error 435–7
- excusable non-performance 445–6
- franchise 384–395
- hardship clause 446
- holdup problem 239–53, 282, 290, 298
- incomplete 241, 281, 288–89, 295, 298–300, 314–15, 317, 323, 334–5, 338, 341, 344
- interpretation 228–41
- marriage 360–78
- mistake 435–7, 460
- modification 73
- option 239–53, 291–4
- performance 445–50
- principal-agent 322
- public enforcement of 427
- quasi-contracts 454–67
- short-term 316–23
- contractual discharge 209, 212–14, 216–19
- contractual mistake and misrepresentation 31–52
- Cooper, R. and T.W. Ross 266–7
- cooperation 300, 314–15, 330–31, 338, 354
- cooperative equilibrium 331, 342
- cooperative investment models of holdup problem 243–7, 315
- cooperative investments 189–90, 344, 346–7
- cooperative specific investment 346
- cooperativeness 221–2
- coordinated adaptation 285–286, 288
- Cooter, R. and T. Ulen 34–5, 57–58, 64–5, 71–2, 429
- Cooter, Robert D. and Melvin Aron Eisenberg 169–166, 173
- Cornu, G. 430
- cost-benefit analysis
- Cour de cassation 438–436, 444
- court competence and error 145–146
- covenant marriage 363
- Craswell, Richard 10, 12–16, 23, 26–7, 41, 44–5, 63–4, 69–71, 159, 166
- credence properties 256
- credibility 69
- p. 474Cserne, Péter 57–79
- see Cserne, Péter and Szalai, Akos
- Dagan, H., 457, 461
- Dailami, M. and R. Hauswald 334
- Dam, K.W. 425
- damage provisions 180, 182
- damages limitations 216–17
- damnum absque injuria 455–456
- Darby, M. and E. Karny 256
- Davis, G., S. Cretney and J. Collins 372
- Davis, Kevin E. 117
- Dawson, John P. 60, 340, 456, 464
- De Geest, Gerrit 109, 429, 443
- see Bouckaert, Boudewijn and Gerrit De Geest; De Geest, Gerrit and Roger Van den Bergh
- De Geest, Gerrit and Roger Van den Bergh 58
- debiasing 417
- decision-making strategies 402–4
- default preference 405–406, 419
- default rules 428
- defects of consent 434, 441
- deferred reciprocity 101
- definiteness 316–17, 340
- Del Granado, J.J. 434
- Deutch, Sinai 122
- Dewatripont, M. and E. Maskin 296–7
- Dewatripont, Mathias see Bolton, Patrick and Mathias Dewatripont
- Dickinson, K. 461
- Directive on unfair terms 430, 443, 445
- discount rate 272–3
- disgorgement remedies 464–466
- diversified investments 384
- divorce 360–78
- Dixit, A.K. 432
- Dnes, A. 363, 374, 377, 390, 392–3
- Dnes, A. and N. Garoupa 388
- Dnes, A. and R. Rowthorn 360–61
- Dobbs, D.B. 455
- double bind effect 76
- downstream markets 326
- Draft Common Frame of Reference 437
- Drahozal, C.R. and K.N. Hylton 393
- dual distribution 388–9
- duress 57–79
- Dutch Civil Code 434, 443, 445
- Dutta, S. and S. Reichelstein 318, 321
- duty to inform 437, 440
- duty to rescue 456–60
- dynamic commitment 295–298
- EC Directive 274
- economics of governance 281
- Edelman, J.J. 464
- Edlin, A. and B. Hermalin 251
- Edlin, Aaron S. and Alan Schwartz 162, 179, 188
- Edlin, Aaron S. and Reichelstein, Stephen 188
- efficient breaches 455, 466
- efficient contracts and efficient nonperformance 155–156, 185
- efficient information exchange 11, 23–4
- efficient rate of precaution 235
- Eidenmuller, Horst 59, 62
- Eisenberg, M. 35, 199, 234–5, 414, 448–9, 466
- Ellison, G. 417
- Emons, W. 266, 268
- endowment effect 405–406, 409
- English law 430
- Epstein, Richard A. 74, 407, 454, 456
- equal division inheritance 106–10
- equilibrium 248–50, 253, 267, 299–300
- error in contract 435–7
- p. 475Esposto, Alfredo G. 64, 66
- estate tax 104–106
- European Commission 339
- Evans, R.B. 248–50, 253
- excusable non-performance of contract 445–446
- expectation 92, 158–9, 186–7, 347
- experience properties 256
- exploitation of nonreaders 119–20
- ex post mechanisms 287–9, 291, 294–5, 301
- express invocation 220–21
- failure to read 118
- Farnsworth, E.A. 9–10, 12–13, 24, 26, 370, 466
- fault divorce 360
- fiduciary contracts 133, 140
- Fischhoff, B. 404
- force majeure 445–446
- foreseeability 225–38
- formalism see textualism
- formation defences 61, 74–5
- formulation error 129
- Fragonard case 439
- franchise
- arbitration 393
- at-will 392
- bond 392–4
- buy-backs 385
- contracts 384–395
- franchising 351–3
- free riding 391
- hostages 392–4
- inter-satellite transfers 388
- monitoring 386–7
- resale price maintenance 390–91
- restrictive covenants 393
- royalties 385
- search-cost theory 389
- sunk investments 394
- switching-cost 391
- termination provisions 386, 392
- tie-ins 391
- vertical restrictions 390–91
- fraud 436–7
- free riding 431, 391
- free riding, franchise 391
- French Civil Code 429, 435, 441–3, 445–446
- French inheritance law 107–108
- French law 107–108, 429, 431, 435, 441–3, 445–448
- Friedman, David D. 164
- Friedman, Milton 64
- Friedmann, Daniel 161, 163
- frustration of purpose 219
- Fudenberg, D. 299, 317
- Fudenberg, D., B. Holstrom, P. Milgrom 317–18
- Fuller, Lon 81–2
- Fuller, Lon and William Perdue 159, 170
- Fumagalli, C. and M. Motta 326
- Gabaix, Xavier and D. Laibson 121, 417
- Gallin, N.T. and N.A. Lutz 388
- Gal-Or, E. 262
- Garvin, L.T. 415–16
- Geis, George S. 132, 229, 233–4
- Gergen, M. 460
- German Civil Code 429, 434, 443
- Giesel, Grace M. 75
- gifts, wills, and inheritance law 94–114
- Gillette, Clayton P. 118–24
- Gilson, R.J. 330–31, 336
- Goebel v. Linn 446–7
- Goetz, C.J. and Scott, R.E. 13, 117, 155, 172–3, 182–3, 226
- Goff, Lord R. and G.H. Jones 457
- Goldberg, Victor P. 140, 145, 218–19, 337
- Golden Rule 101
- good faith 14, 22, 60, 125, 128, 132, 135, 140, 143, 145, 184, 429–33
- Goode, R. 430
- Gordon, W. 464
- governance mechanisms 283–286
- governance structure 222
- Graham, Daniel A. and Ellen R. Pierce 73
- gratuitous promises 80–94
- greener grass effect 360, 368, 372
- Grosskopf, O. and B. Medina 10, 27–28, 37
- Grossman, S.J. 259, 262
- Grossman, S.J. and O. Hart 350
- Grossman, Hart and Moore 290
- Guthrie et al. 200
- p. 476Haanappel, P.P.C. and E. Mackaay 429
- Hadfield, Gillian K. 145
- Hadley v. Baxendale 225–38
- Hale, Robert L. 75
- Hand, Learned 455
- hardship clause 446
- harm-based liability 465
- Harris, D. and D. Tallon 450
- Hart, O. and J. Moore 241–248, 289–91, 299, 350
- Hasen, R.L. 459
- Hatzis, A.N. 445
- Hatzis, Aristides N. and Eleni Zervogianni 74
- Havighurst, Harold C. 81–2
- Henningsen 115
- Hermalin, Benjamin E. et al. 65–66, 73–4, 128, 289
- Hershovitz, S. 458
- Hesselink, M.W. 429
- heuristics 402, 404–406 408
- hidden actions 298–9, 301
- hierarchical governance 284–286, 297
- Hill v. Gateway 2000 118
- Hillman, R.A. 414–15
- Hirshleifer, H. 34–5
- Hochster v. De La Tour 171
- holdout problem 431
- holdup problem 239–53, 282, 290, 298, 315, 318, 327, 329–30, 336–7, 348, 431
- Holström, B. and J. Roberts 328
- horizontal free riding 385
- hostages, in franchising 392–4
- Hoy, F. 389
- Huber, P.K. 461
- human capital 301, 327, 348
- Hviid, Morton 227
- hybrid governance 284–9, 295, 297–9, 301–2
- hybrid investments 344
- Iacobucci, E. 391
- imperfect information 64, 67
- impossibility and impracticability 207–24
- incentive intensity 285, 299
- incentives
- incentives and contract length 322
- incomplete contracts 130–32, 216–17, 241, 281, 288–9, 295, 298–300, 314–15, 317, 323, 334–5, 338, 341, 344
- incomplete divesture 460–64
- incomplete information 319
- indifference curve 258, 260, 264, 465
- indifference principle 448–9
- information
- information-forcing default 228–9
- institutional competence 69–70
- institutional economics 297, 432
- intentional ambiguity 129, 226–7
- inter vivos transfers 97, 99, 105
- interpretation and implied terms in contract law 125–51
- interpretation of contracts 338–41
- inter-satellite transfers, of franchises 388
- investment 240–45, 248–52, 262, 265, 282, 290–91, 293–4, 296–7, 314, 318, 323, 326–34, 336–7, 343–9, 384
- Jackson, Thomas H. 171
- Johnston, J.S. 10, 19, 24, 119, 227, 232
- joint fault and multiple contingencies 142–3
- Jolls, Christine 37, 374, 442
- Jolls, C. and C.R. Sunstein 410
- Jolls, C., C.R. Sunstein and R. Thaler 401–2
- Joskow, Paul 210–12, 292, 328, 330, 335
- Kahneman, D., J.L. Knetsch and R. Thaler 405
- Kaldor-Hicks efficiency 363, 456, 460
- Kaldor-Hicks test see allocative efficiency
- Kambhu, J. 266, 268
- Kaplow, L. and S. Shavell 289
- Katz, A. 13, 15–16, 26, 117, 141, 143
- see Hermalin, Benjamin E. et al.
- Keily, T. 430
- Kennedy, Duncan 61, 64
- Klass, G. see Ayres, I. and G. Klass
- Klausner, Michael 117
- Klein, B. 119, 282, 362, 392
- Klein, B. and L.F. Saft 391
- Klein, B., R.G. Crawford, and A.A. Alchain 350
- Klick, J., B. Kobayashi and L. Ribstein 352, 386
- Knetsch, J. 367
- Knight, F.H. 282, 301
- Kornhauser, Lewis 117
- Korobkin, R. 120, 406, 413–14, 416–17
- Korobkin, R. and T. Ulen 401, 403, 407–10, 413–14, 418–19
- Kostritsky, J.P. 10, 14, 22–3, 142
- Kötz, Hein 58–60, 443
- Krell v. Henry 207–208, 213, 219
- Kronman, Anthony T. 33–4, 64, 66, 165, 448
- Kull, Andrew 82–3, 168, 462–4, 466
- La Porta, R. 425
- Laffont, Jean-Jacques and David Martimort 158
- Lafontaine, F. 385, 388–90
- Lafontaine, F. and K. Shaw 352, 389
- Lafontaine, F. and M. Slade 350
- Landes, W. and R. Posner 45–46, 458
- Lando, H. and C. Rose 450
- Langevoort, D.C. 401
- least-cost-avoider 15–16, 22
- Leff, Arthur A. 122
- legal deterrence, theory of 41–2
- lésion 64, 440–42
- Levmore, S. 457–9
- liability, benefit-based 465
- liability, harm-based 465
- liability, limitation clauses 443
- libertarian paternalism 412, 420
- limitation clause on liability 443
- linguistic over-determination 289
- Lipshaw, Jeffrey 130, 139
- liquidated damages 166–7, 178, 414–15, 445
- literalism see texualism
- Litvinoff, S. 429
- Loasby, B. 287
- Long, R.A. 457
- long-term contracts 208, 210, 217–19, 221, 223, 281–302, 314–54
- Lyon, T.P. and E. Rasmusen 245–248
- Macaulay, Stewart 218, 374
- Mackaay, E. 425, 430
- Mackaay, E. and V. Leblanc 433
- Macneil, Ian R. 163, 374–5
- Mahoney, Paul G. 41, 155–77, 166
- majoritarian default rule 228–30, 412–13
- mandatory rescue 458
- mandatory rule 428
- mandatory warranties 428
- Mann, D.P. and J.P. Wissink 266, 268
- Mann, R.J. 19, 120
- marital
- Martimort, David see Laffont, Jean-Jacques and David Martimort
- Martin, R.E. 388–9
- Marvel, H. 391
- Maskin, E. and J. Moore 289
- Maskin, Eric and Jean Tirole 191
- material adverse change 184
- Mathewson, G.F. and R.A. Winter 385–7
- Matouschek, N. and I. Rasul 362
- Mattei, U. 445
- Maxcy, J.G., R.D. Fort and A.C. Krautmann 324
- McInnes, M. 464
- Mechoulan, S. 362
- Medina, B. see Grosskopf, O. and B. Medina
- Melamed, Douglas A. see Calabresi, Guido, and Dougas A. Melamed
- Ménard, C. 283, 286–7
- Miceli, T.J. 374
- Milhaupt, C.J. and K. Pistor 425
- Millon, D. 413
- Mineral Park 208
- Minkler, A. 389
- minoritarian default rule 229
- misperception-based pricing 417
- misrepresentation 437
- mitigation of damages 449
- modification of contracts 59, 93
- modification of marriage contracts 374
- money damages 239
- money-back warranties 256
- monitoring, of franchise 386–7
- monopoly 64, 71, 73, 116–17
- Moore, J. and R. Repullo 289
- moral consideration 94
- moral hazard 289, 295, 298, 301, 321–2, 337, 386, 394, 431, 436, 446
- multidimensional pricing 418
- Muris, Timothy J. 73, 140
- Muthoo, A. 292
- mutual assent, mutual consent 18–19, 61, 122
- Napoleonic inheritance 106–7
- Nash 267, 289, 299
- need-based remedy for marital breach 372–3
- negative externalities 64
- negotiorum gestio 456
- neoclassical economics 282, 284, 287
- Netherlands Civil Code 445
- no-fault divorce 360, 362–4
- Nöldeke, G. and K.M. Schmidt 241–3, 250–51, 294
- Noll, J. 266
- nominal consideration 91
- non-compete 341, 348–9
- non-cooperative game 288
- non-enforcement default rules 413–14
- non-performance 341–3, 445–446
- non-rational behavior 402, 410
- Norton, S.W. 385
- no-trade penalty or outcome 191
- Nozick, Robert 62
- objective good faith 430
- OECD 106, 110
- offer of reward 433
- Ogus, Anthony 32
- old-age security 101–2
- opportunistic behavior 11, 20–23, 40–41, 73–4, 139–42, 159, 166, 168–9, 174, 221–2, 431–3, 436, 442, 449
- optimal damage measure 26–7, 163
- p. 479optimal default cap 230–31
- optimal precision 234
- option contracts 239–53, 291–4
- organizational costs 385
- Ourliac, P. and J. de Malafosse 431
- outside option model 293
- over-investment 11–12, 18, 27–28, 322–3, 348–9
- Palmer, G.E. 464
- Pareto principle 67, 76, 101, 156
- Parkman, A. 363
- parol evidence rule 126, 134, 137, 141
- partial performance 167, 170
- partnership model of marriage 371
- paternalism 410–12, 420
- penalties for failure to rescue 458
- penalty
- perfect equilibrium game 292
- perfect tender rule 168–9
- performance of contract 445–50
- Perloff, Jeffrey M. 212
- Petty, A.R. 464
- Pierce, Ellen R. see Graham, Daniel A. and Ellen R. Pierce
- Pineau, J. 430–31
- plain meaning rule 134, 138
- Poitevin, M. 325
- pooling resources 287, 297
- Popenhoe, D. 377
- Porat, A. 458
- Posner, Eric 228–9, 233, 415
- Posner, Richard A. 65, 74, 133–4, 140,
209–12, 362, 408–9, 429, 447, 455, 463,
466
- see Landes, W. and R. Posner
- post-nuptial agreements 375
- Poussin case 437–9
- precontractual liability 9–28
- preliminary agreement 13–14
- Prentice, Robert A. 80–95
- pre-nuptial agreements 375
- price adjustments 216–17
- price reduction warranties 256, 274
- pricing, multidimensional 418
- Priest, George L. 168, 265, 428
- primogeniture 108
- principal-agent contracts 322
- prisoner’s dilemma 220, 299–300
- private ordering paradigm 63–5
- Probert, R. and J. Miles 361, 376
- Probst, Thomas 58
- product complexity models of holdup problem 243–7
- profit-sharing agreements 385, 387
- promissory estoppel
- quality premiums 273
- quasi-contracts 167, 454–67
- quasi-rents 323, 327, 343
- Quebec Civil Code 429, 434–5, 441–3, 445–446, 448
- Quebec Consumer Protection Act 442
- Rachlinsky, J.J. 412, 415
- Radin, Margaret 76
- Rasmusen, E. and I. Ayres 38–9
- Rasmusen, E. see Rasmusen, E. and I. Ayres
- Rasmusen, E.B., J.M. Ramseyer and J.S. Wiley Jr. 325
- rational choice theory 401–2, 407–408
- redistributive equity 105
- refinance 296–298
- regret contingency 155–156
- relational contracting 289, 295, 299–300, 314
- relation-specific investments 12, 14, 20, 22
- reliance 10, 156–7, 159–64, 168–70, 455
- reliance damages 345–346
- reliance damages for marital breach 366–9
- remedies 155–77, 315–16, 335, 341–348, 345–346, 437, 454
- remedies for marital breach 366–73
- renegotiation 156, 161, 163–166, 188–90, 240–53, 291–5, 298–9, 316, 318–22, 327, 333–338, 344, 346–9
- Renner, Shirley 217
- repeat players 115–16
- repeated hidden action 281
- replacement warranties 256
- reputation 129–30, 220, 269–72
- reputational equilibrium 270
- resale price maintenance, franchise 390–91
- rescission 35–36, 167–9
- rescue 454, 456–7
- Restatement (Second) of Contracts 208, 430
- 175(1) 58
- Restatement (Third) of Restitution 466
- restitution 57, 67, 159–60, 167–9, 174, 347, 454–458, 461–3
- restitution damages for marital breach 369–71
- restrictive covenants in franchise agreements 393
- revolving-offer bargaining 292–3
- reward, offer of 433
- risk and contract length 322
- Roe, M.J. 425
- Roe, M.J. and J.I. Siegel 425
- Rolland, L. 430
- Rosenfield, Andrew 209–12
- Rosental, P.A. 108
- Rowthorn, R. 362
- royalties, of franchise 385
- Rubin, P.H. 384–5, 387, 459–60
- Rubinstein equilibrium 249
- Rubinstein-Stahl 292
- rule of absolute liability 207
- Saiman, C. 457
- same-sex marriage 377
- Samuelson, W. and R. Zeckerhauser 405
- sanctions 155
- satisficing 403
- Savage, L.J. 282, 301
- Schmitz, Patrick W. 190–91
- Schwartz, A. and R.E. Scott 10, 13, 14, 25, 27, 128, 134, 136, 142–5, 340
- Schwartz, Alan 74, 184–5
- see Schwartz, A. and R.E. Scott; Edlin, Aaron S. and Alan Schwartz
- Schwartz, Alan and Louis L. Wilde 118–19
- Schweizer, Urs 162–3
- Scott, E.S. and R.E. Scott 375
- Scott, R.E. 10, 219–20, 339
- see Schwartz, A. and R.E. Scott; Goetz, C.J. and R.E Scott.
- Scott, Robert E. and George G. Triantis 159–60
- screening mechanisms 297
- seal 91
- search properties 256
- search-cost theory, of franchise 389
- Segal, I. 244–5, 247–248
- Segal, I. and M.D. Whinston 325
- selfish investments 344–5
- Selten, R. 292
- sequential contracting behavior 121
- sequential investment 250–51
- Shaked, A. and J. Sutton 246–248, 250, 252
- Shavell, Steven 49, 65–66, 68–9, 71–2, 127, 156, 158, 162, 175, 345
- Shell, R.G. 10, 21–2
- Sherwin, E. 461
- shirking 385, 431
- short-term contracts 316–23
- shrouded attributes 417
- signaling equilibrium 197–198
- Silver, C. 456
- Simon, Herbert 217, 402
- simultaneous investment 250
- Singer, J. 371
- Slovic and Lichtenstein 404
- Smith, V. 361
- Smith, J. and R. Smith 39
- p. 481Smith, Lionel 461
- Smythe, Donald J. 207–24
- social welfare 290–91, 294, 299–300
- soft-budget constraint syndrome 289, 295–298
- Sovern, J. 419
- specific investments 314, 318, 326–33, 336–7, 343–348
- specific performance 164–166, 239, 294, 342, 348, 448–50
- Spence, M. 259, 262
- Spitzer, M. and E. Hoffman 407
- standard form contracts 115–24
- status-quo bias 405–406, 413, 419
- Statute of Frauds 463
- Step-Saver Data Systems, Inc. v. Wyse Technology 118
- Stewart, Hamish 61, 63, 67
- stickiness 232–3
- Stigler, G. 42
- stipulated damages 180, 182–4, 186, 189, 194–5, 198–202
- stochastic damages 231–2
- Stole, Lars A. 184–5
- Stolle, Dennis P. and A.J. Slain 118
- subjective good faith 430
- subsequent improvement warranties 256, 274
- substitute assets 287
- Suez Canal cases 213, 219
- sunk cost effect 418
- sunk investments, of franchise 394
- Sunstein, C.R. 401, 410
- Sunstein, C.R. and R.H. Thaler 412, 419–20
- superior risk bearer 131, 137–9, 142
- suppletive law 428, 446
- switching-cost, of franchise 391
- Sykes, Alan O. 213–14
- Szalai, Akos see Cserne, Péter and Szalai, Akos
- tailored default rules 226, 413–14
- taxing bequests see estate tax
- Taylor v. Caldwell 207
- Taylor, James Stacey 63
- termination at will 353
- termination provisions, of franchise 386, 392
- Tesler, L. 391
- textualism 128, 131, 133, 136, 142–9, 434
- Thaler, R. 405–406, 418
- Thompson, R.S. 388–9
- threat of violence or fear 440
- tie-ins, franchise 391
- timing of foreseeability determination 234–5
- Tirole, J. 295
- Tomes, Nigel 107–108
- total and partial breach 167
- trading opportunity 246–9, 252–3
- transaction cost theory 115–16, 282, 287, 330–31, 350, 384–5, 392
- transferable control 295
- Trebilcock, Michael 366, 429
- Trebilcock, Michael J. 63–4, 67, 76
- see Aivazian, Varouj A. et al. 73
- Triantis, George G. 73, 214–16 see also Scott, Robert E. and George G. Triantis
- Trimarchi, Pietro 216–17
- Tullock, Gordon see Buchanan, James and Gordon Tullock
- Tversky, A. and D. Kahneman 404, 406
- typology of default rules 229
- UCC Article 2 93, 179–80, 208
- Ulen, T. 408 see also Cooter, R. and T. Ulen
- unconscionability 60, 64, 74, 417, 430
- underinvestment 294–5, 323
- undue influence 58–61
- unforeseeability 446–7
- Unidroit Principles of International Commercial Contracts 430
- Uniform Written Obligations Act 91
- unjust enrichment 439, 454–67
- unverifiable information 181–4, 186–188, 190, 192
- use-pattern mistakes 418
- valuation 290
- van Wijck, Peter 225–38
- verifiability of non-performance 341–3
- vertical disintegration 330
- vertical integration 328–9, 350
- vertical restrictions to franchising 390–91
- p. 482Vienna Sales Convention 430
- volition, theory of 57
- voluntariness 57–58, 61–2, 64, 67, 70–71, 74–5
- Von Neumann, J. and O. Morgenstern 282
- von Thadden, E. 298
- Wehrt, K. 269
- Weinrib, E.J. 460
- Weitzman, L.J. 371
- Westinghouse case 210–11
- White, Michelle 213
- Wickelgren, A.L. 246–248
- will theory see classical theory of contract
- Williams, D. 352
- Williamson, O.E. 217–18, 283–286, 321, 327, 350, 374, 393, 432
- Wils, W. 19–20
- Windsperger, Cochet and Ehrmann 394
- Wittman, D. 427, 429, 432–4, 457, 459, 465
- Wonnell, Christopher T. 36, 38, 67, 455–7, 462