Spontaneous Order - Always Efficient? Comment on Patrick Simon's: "Emergence of a European Ius Commune"
Ius Commune describes the spontaneous development of a european contract law by adaptive behavior of contracting parties to competing law systems and their interpretations by jursidiction. The idea of spontaneous law harmonization is appealing, since its result is independent of centraized planning. However, spontaneous order might be inefficient, due to adaption costs and inefficient equilibria, as the paper demonstrates, making use of simple examples.
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