Diversity of Contract Law and the European Internal Market
AbstractThis contribution discusses the question whether diversity of contract law among the European member states is a barrier to cross-border trade. This question is important in view of the ongoing debate about the need for a unified European private law. It has tried to answer the question by building upon insights from psychology, economics and law. It turns out that no definitive answer can be given to the question whether the savings in transaction costs through the removal of legal diversity are greater than the losses caused by the termination of competition of legal systems.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 8192.
Date of creation: 2005
Date of revision:
Unification; Contract Law;
Find related papers by JEL classification:
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
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