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Private Ordering, Collective Action, and the Self-Enforcing Range of Contracts. The Case of French Livestock Industry

  • Armelle Mazé

    ()

    (SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - INRA - Institut National de la Recherche Agronomique - AgroParisTech - AgroParisTech)

  • Claude Ménard

    ()

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Contract enforcement is acknowledged as a major issue in Law and in Economics. Contrasting substitution and complementary perspectives with respect to the role of private versus public enforcement institutions, this article analyses how contract law can support private institutions, and enhance economic efficiency. With multilateral agreements at stake, self-regulation and reputation mechanisms at the core of private ordering have limitations that collective organizations backed by the Law help to overcome. The analysis is substantiated by empirical data from the cattle industry. Our results suggest the need for a broader approach to contract regulation by legal scholars and antitrust-authorities.

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Paper provided by HAL in its series Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) with number halshs-00624288.

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Date of creation: 2010
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Publication status: Published in European Journal of Law and Economics, Springer Verlag, 2010, 29 (1), pp.131-153
Handle: RePEc:hal:cesptp:halshs-00624288
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00624288
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  10. Gary D. Libecap, 1991. "The Rise of the Chicago Packers and the Origins of Meat Inspection and Antitrust," NBER Historical Working Papers 0029, National Bureau of Economic Research, Inc.
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