 |
|
|
At the Crossroads of Law and Economics – a Few Labour Court Cases Revisited
|
|
Läs hela artikeln
At the Crossroads of Law and Economics – a Few Labour Court Cases Revisited |
Sammanfattning
How does one interpret contracts? Is there a duty to clarify what applies? And why is there a duty to act in order to avoid liability? The answer is efficiency. Part of it is that in some cases risk allocation is at stake. It is basic in the field of law and economics to attempt to use economic theory in order to understand legal systems, or – for lawyers – to make use of the toolbox routines developed by the economists.
In my view the No 1 rule of law and economics is the following: ‘From the standpoint of economic efficiency, the court should assign the loss from non-delivery so as to make future contractual behavior more efficient. And a rule for doing this is to assign the losses to the party who can bear the risk of such a loss at least cost’. This person is also called the ‘cheapest cost avoider’, i.e. the party who can bear risk at the lowest cost.
|
|
Texten har även publicerats i:
Festskrift till Ann Numhauser-Henning, Jursitförlaget i Lund 2017 |
|
|
|
|