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Delivering Legality on the Internet: Developing Principles for the Private Provision of Commercial Law


  • Gillian K. Hadfield


The development of commercial trade on the Internet has generated a demand for commitment services not met by publicly provided law. In this environment, privately provided means of delivering legality to support trade have emerged, supplying "trust" and "assurance" services through digital certificates and digital seal programs. I survey these developments and from them generate a set of principles to guide economic analysis of privately provided commercial law. Copyright 2004, Oxford University Press.

Suggested Citation

  • Gillian K. Hadfield, 2004. "Delivering Legality on the Internet: Developing Principles for the Private Provision of Commercial Law," American Law and Economics Review, Oxford University Press, vol. 6(1), pages 154-184.
  • Handle: RePEc:oup:amlawe:v:6:y:2004:i:1:p:154-184

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    References listed on IDEAS

    1. Polinsky, A Mitchell, 1997. "Are Punitive Damages Really Insignificant, Predictable, and Rational? A Comment on Eisenberg et al," The Journal of Legal Studies, University of Chicago Press, vol. 26(2), pages 663-677, June.
    2. Manning, Richard L, 1994. "Changing Rules in Tort Law and the Market for Childhood Vaccines," Journal of Law and Economics, University of Chicago Press, vol. 37(1), pages 247-275, April.
    3. Joni Hersch & W. Kip Viscusi, 2004. "Punitive Damages: How Judges and Juries Perform," The Journal of Legal Studies, University of Chicago Press, vol. 33(1), pages 1-36, January.
    4. Eisenberg, Theodore, et al, 1997. "The Predictability of Punitive Damages," The Journal of Legal Studies, University of Chicago Press, vol. 26(2), pages 623-661, June.
    5. Viscusi, W Kip & Moore, Michael J, 1993. "Product Liability, Research and Development, and Innovation," Journal of Political Economy, University of Chicago Press, vol. 101(1), pages 161-184, February.
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    Cited by:

    1. Brousseau, Eric & Raynaud, Emmanuel, 2011. "“Climbing the hierarchical ladders of rules”: A life-cycle theory of institutional evolution," Journal of Economic Behavior & Organization, Elsevier, vol. 79(1), pages 65-79.

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