The Choice Theory Of Contracts
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The Choice Theory of Contracts
Author: Hanoch Dagan
language: en
Publisher: Cambridge University Press
Release Date: 2017-04-17
The Choice Theory of Contracts is an engaging landmark that shows, for the first time, how freedom matters to contract.
Justice in Transactions
“One of the most important contributions to the field of contract theory—if not the most important—in the past 25 years.” —Stephen A. Smith, McGill University Can we account for contract law on a moral basis that is acceptable from the standpoint of liberal justice? To answer this question, Peter Benson develops a theory of contract that is completely independent of—and arguably superior to—long-dominant views, which take contract law to be justified on the basis of economics or promissory morality. Through a detailed analysis of contract principles and doctrines, Benson brings out the specific normative conception underpinning the whole of contract law. Contract, he argues, is best explained as a transfer of rights, which is complete at the moment of agreement and is governed by a definite conception of justice—justice in transactions. Benson’s analysis provides what John Rawls called a public basis of justification, which is as essential to the liberal legitimacy of contract as to any other form of coercive law. The argument of Justice in Transactions is expressly complementary to Rawls’s, presenting an original justification designed specifically for transactions, as distinguished from the background institutions to which Rawls’s own theory applies. The result is a field-defining work offering a comprehensive theory of contract law. Benson shows that contract law is both justified in its own right and fully congruent with other domains—moral, economic, and political—of liberal society.
Theories of Choice
Author: Stefan Grundmann
language: en
Publisher: Oxford University Press
Release Date: 2021-01-14
Choice is a key concept of our time. It is a foundational mechanism for every legal order in societies that are, politically, constituted as democracies and, economically, built on the market mechanism. Thus, choice can be understood as an atomic structure that grounds core societal processes. In recent years, however, the debate over the right way to theorize choice - for example, as a rational or a behavioral type of decision making - has intensified. This collection provides an in-depth discussion of the promises and perils of specific types of theories of choice. It shows how the selection of a specific theory of choice can make a difference for concrete legal questions, in particular in the regulation of the digital economy or in choosing between market, firm, or network. In its first part, the volume provides an accessible overview of the current debates about rational versus behavioral approaches to theories of choice. The remainder of the book structures the vast landscape of theories of choice along with three main types: individual, collective, and organizational decision making. As theories of choice proliferate and become ever more sophisticated, however, the process of choosing an adequate theory of choice becomes increasingly intricate. This volume addresses this selection problem for the various legal arenas in which individual, organizational, and collective decisions matter. By drawing on economic, technological, political, and legal points of view, the volume shows which theories of choice are at the disposal of the legally relevant decision-maker, and how they can be operationalized for the solution of concrete legal problems. The editors acknowledge the kind support of the Fritz Thyssen Foundation for an exploratory conference on the subject of the book.