Framing Contract Law: An Economic Perspective
15 January 2007
By Dr. Victor Goldberg
In this book from Harvard University Press, Dr. Victor Goldberg, NERA Special Consultant and Jerome Greene Professor of Transactional Studies at Columbia University School of Law, notes that an economic framework -- incorporating such concepts as information asymmetry, moral hazard, and adaptation to changed circumstances -- is appropriate for contract interpretation, analyzing contract disputes, and developing contract doctrine. Dr. Goldberg argues that the value of the approach is demonstrated through the close analysis of major contract cases, because in many of the cases, had the court (and the litigators) understood the economic context, the analysis and results would have been very different.
Framing Contract Law: An Economic Perspective examines a range of topics and cases -- including consideration (Wood v. Lucy, Lady Duff Gordon), interpretation (Bloor v. Falstaff and Columbia Nitrogen v. Royster), remedies (Campbell v. Wentz, Tongish v. Thomas, and Parker v. Twentieth Century Fox), and excuse (Alcoa v. Essex).
To learn more or to order a copy of Framing Contract Law: An Economic Perspective, please visit the Harvard University Press website.
