Author(s): Jaka Cepec
Journal: LeXonomica : Journal of Law and Economics
ISSN 1855-7147
Volume: I;
Issue: 1;
Start page: 59;
Date: 2009;
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Keywords: contract law | information | asymmetric information | economic analysis of law | contracting | market of lemons
ABSTRACT
In his paper author discusses the issue of asymmetric information in contract law, using historical, comparative and economic analysis. He starts with the general economical theory of contracts and represents the asymmetric of information as the most common market failure. Further, he analyses the effects of asymmetric information in contracting and suggests a disclosure rule as a general solution for the problem. His final finding is that the general rule must be supplemented with an exception in the case of productive deliberately acquired information.
Journal: LeXonomica : Journal of Law and Economics
ISSN 1855-7147
Volume: I;
Issue: 1;
Start page: 59;
Date: 2009;
VIEW PDF
DOWNLOAD PDF Original pageKeywords: contract law | information | asymmetric information | economic analysis of law | contracting | market of lemons
ABSTRACT
In his paper author discusses the issue of asymmetric information in contract law, using historical, comparative and economic analysis. He starts with the general economical theory of contracts and represents the asymmetric of information as the most common market failure. Further, he analyses the effects of asymmetric information in contracting and suggests a disclosure rule as a general solution for the problem. His final finding is that the general rule must be supplemented with an exception in the case of productive deliberately acquired information.
