Advanced Search
MyIDEAS: Login

L'allocation des risques dans les contrats : de l'économie des contrats « incomplets » à la pratique des contrats administratifs

Contents:

Author Info

  • Thierry Kirat
Registered author(s):

    Abstract

    Risk allocation in contracts�: from the economics of incomplete contracts to the effective practices in administrative contracts Risk allocation in contracts is an important issue for both economics and law. It questions the theoretical, methodological, and empirical foundations of economic and legal analysis. It also offers a valuable ground for comparative legal-economic inquiry. The article aims at providing some insights into that general approach, and proceeds with an articulation of theoretical and empirical analysis. The paper first offers a critical analysis of some key economics based hypothesis on law, contract law and legal institutions, notably the courts. It concentrates on various components of the New Institutional Economics stream that have something to do with the notion of contractual incompleteness. The emphasis is put on two central issues�: the contract~institutions relationship, and the scope of incompleteness as a guide for empirical research into the economic dimensions of contract law. The second part of the article compares and evaluates the significance of the economic concept of incompleteness and the French legal notion of imprévision, which relates to a notion that the administrative courts have set up to decide cases in which the occurrence of unforeseen events affects the contractual equilibria as set up ex ante. The analysis then moves toward the research of a legal and empirical translation of uncertainty of the future. The article argues that positive legal provisions in contract law enable co-contractors to set up a framework in which the consequences of unforeseen events can be addressed. Legal provisions such as those which relate to conditional duties, aleatory contracts, force majeure, fortuitous events, price revision, hardship, are examples of tools that allow a significant amount of previsibility in contractual relations, particularilly longterm contracts. We then offer an empirical analysis of a specific legal notion�: imprévision. The analysis is based on legal data, namely the French Conseil d?'??tat decisions that deal with a request for compensation by the State of the economic consequences of the occurrence of unforeseen events for the suppliers. A descriptive statistical analysis is associated to a study of the legal instructions given by the State to its contracting officers�; a comparison of price determination provisions under American procurement and French law of marchés publics is then made. "

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RIDE_171_0011
    Download Restriction: free

    File URL: http://www.cairn.info/revue-internationale-de-droit-economique-2003-1-page-11.htm
    Download Restriction: free

    Bibliographic Info

    Article provided by De Boeck Université in its journal Revue internationale de droit économique.

    Volume (Year): t. XVII, 1 (2003)
    Issue (Month): 1 ()
    Pages: 11-46

    as in new window
    Handle: RePEc:cai:riddbu:ride_171_0011

    Contact details of provider:
    Web page: http://www.cairn.info/revue-internationale-de-droit-economique.htm

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:cai:riddbu:ride_171_0011. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.