Contract Theory in a VUCA World

Contract Theory

2 Hidden Information, Screening 4 2.1 The Simple Economics of Adverse Selection . . . . . . . . . . . . . . . . . . 4 2.1.1 First-Best Outcome: Perfect Price Discrimination . . . . . . . . . . . 6 2.1.1.1 Comparison of type-specific contracts with each other . . . . 6 2.1.1.2 In case it’s been too long since you’ve last done a maximization problem . . . . . . . . . . . . . . . . . . . . . . . ....

Testing Contract Theory: a Survey

Since the early seventies, the development of the theoretical literature on contracts has been nothing short of explosive. The study of more and more sophisticated abstract models has gone hand in hand with the use of the tools of the theory to better understand many ...elds of economics, such as industrial organization, labor economics, taxation, insurance markets or the economics of banking. ...

Contract Theory and Theories of Contract Regulation

This Essay considers the substantive and institutional aspects of an economic theory of contract regulation. It lists the various functions that analysts have assigned to contract regulation and briefly discusses the substantive wisdom and institutional feasibility of performing those functions. The essay tentatively concludes that the state should enforce contracts, supply vocabularies that ar...

Contract Texts, Contract Teaching, Contract Law: Comment on Lawrence Cunningham, Contracts in the Real World

Lawrence Cunningham’s Contracts in the Real World offers a good starting place for necessary conversations about how contract law should be taught, and, more generally, for when and how cases—in summary form or in longer excerpts—are useful in teaching the law. This Article tries to offer some reasons for thinking that their prevalence may reflect important truths about contract law in particul...

Lecture Notes in Contract Theory