This chapter surveys major issues arising in the economic analysis of contract law. It begins
with an introductory discussion of scope and methodology, and then addresses four main …

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In the past few decades, economic analysis of law has been challenged by a growing body
of experimental and empirical studies that attest to prevalent and systematic deviations from …

Providers of private governance can be geographically based and have a comprehensive
set of rules for many aspects of life (as in a boarding school or a kibbutz), or they can be …

Norms are a pervasive yet mysterious feature of social life. In Explaining Norms, four
philosophers and social scientists team up to grapple with some of the many mysteries …

Why are many storefronts in Moscow empty, while street kiosks in front are full of goods? In
this Article, Professor Heller develops a theory of anticommons property to help explain the …

Within legal scholarship and practice, among the most pervasive tasks is the interpretation of
texts. And within legal interpretation, among the most pervasive inquiries is the search for …

The authors first explain the various ways the rationality assumption is used in legal
scholarship and why it leads to unsatisfying policy prescriptions. They then systematically …

What is the role of law in a society in which order is maintained mostly through social norms,
trust, and nonlegal sanctions? Eric Posner argues that social norms are sometimes …

Contract law has neither a complete descriptive theory, explaining what the law is, nor a
complete normative theory, explaining what the law should be. These gaps are unsurprising …