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01.ב.250.4253 |
Economics
Of Contracts |
2
credits 6/2008 |
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Professor Francesco Parisi |
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After
a brief review of the methodology and instruments of economic analysis, this
course utilizes the standard tools of economic analysis for the study of
contract law. The first part of the seminar reviews some of the basic concepts
of economic analysis, including the following: (i) Coase theorem; (ii) models of market failure; (iii)
uncertainty and risk-aversion; and (iv) strategic
behavior and basic game theory as they apply to contract law and contract
formation. The second part of the seminar applies the above tools to the study
of formal and informal contracts with special focus on: (i)
contracts without contract law; (ii) functions of contract law; (iii) breach
and optimal remedies in contracts; and (iv) contracts
and property.
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