This short essay conducts a review of Victor Goldberg's 2006 book entitled Framing Contract Law. Part I offers a basic overview of Goldberg's analysis, along with several detailed illustrations of his methodological approach. Part II then devotes sustained attention to one of the book's core themes - the relationship of option theory to contract law - to consider how a better understanding of economic incentives can improve legal decisions. Part III refocuses the discussion by raising some thorny design questions that must be addressed before the contract law canvas can be comfortably mounted on an economic frame.
The history of public policy is littered with failures to solve large-scale social problems using interventions derived from behavioral science...
Large language models (LLMs) now perform extremely well on many natural language processing tasks. Their ability to convert legal texts to data may...
In an era of supposed great equality, women are still falling behind in the workplace. Even with more women in the workforce than in decades past...
The glaring gap in tort theory is its failure to take adequate account of liability insurance. Much of tort theory fails to recognize the active and...
Countries hit by unexpected crises often look to their overseas diasporas for assistance. Some countries have tapped into this generosity of their...
An upcoming Supreme Court case on Article III standing and disability presents critical questions about the future of litigation that promotes...
There is concern that present-biased agents incur too much debt because of its deferred costs – concern that has influenced regulation of consumer...
Lenders are perfectly free to decide for themselves whether, when, how, to whom and on what terms they will extend credit to a sovereign borrower. But...
False information causes harm, threatening individuals, groups, and society. Many people struggle to judge the veracity of the information around them...
Many analyses of law take an unsentimental, perhaps even cynical view of regulated actors. On this view, law is a necessity borne of people’s selfish...
Three established torts require the defendant’s behavior to be “offensive” or “highly offensive” in order to be actionable: offensive battery, public...
This paper, prepared for the 2023 Clifford Symposium on “New Torts” at DePaul Law School, addresses the tort of offensive battery. This is an ancient...
This article examines the impact of Greece retroactively, via legislation, changing the terms in hundreds of billions of euros worth of Greek...
Income inequality is a national preoccupation, and the public’s imagination is captured by the astronomical incomes of Valley tech billionaires and...
There is a live debate going on over whether antitrust should take a broader view of the economics of market concentration. When antitrust reformers...
The SEC mandates that public companies assess new information that changes the risks that they face and disclose these if there has been a “material”...
This paper describes the response of George Washington's administration to a plea for emergency war financing from French colonists who were trying to...