Contents:

Chapter 1 - - The Virtues of Diversity in European Private Law. Gerhard Wagner I The Commission Action Plan II Harmonizing European Contract Law III The Virtues of Diversity 1 Party Autonomy 2 Federalism IV Questioning the Economics of Federalism 1 The Assumption of Complete Information 2 The Costs of Moving 3 Is Voting an Option? 4 Comparative Law as a Mechanism of Competition V Examples of Competition at Work 1 European Family Law 2 European Corporate Law a) Regulatory Competition at Work b) The Race to the Bottom 3 Lessons for Contract Law a) Allowing for Choice of Law b) The Race to the Bottom 4 Conclusions VI The Transaction Costs Argument 1 Legal Diversity as a Tax 2 Legal Diversity as Barrier to Entry 3 Consumer Behaviour VII Balancing Costs and Benefits 1 Contract Law in General 2 Consumer Law in Particular 3 Procedural Issues Chapter 2 - Economic Analysis of Cross-Border Legal Uncertainty The Example of the European Union. Helmut Wagner Introduction 1 The European Union and the Role of the Legal System 2 Costs of Legal Uncertainty 2.1 On the Term ‘Legal Uncertainty’ 2.1.1 Subjective Legal Uncertainty 2.1.2 Objective Legal Uncertainty 2.2 Theoretical Derivation of the Costs of Legal Uncertainty 2.2.1 Types of Costs Caused by Legal Uncertainty 2.2.2 Static or Level Effects of Legal Uncertainty 2.2.3 Dynamic or Growth Effects 2.3 Empirical Analyses 3 Disadvantages of Full Harmonization of Law 4 Politico-economic Aspects 5 Conclusion Chapter 3 - Law, Economics and Uniform Contract Law: A Sceptical View. Jaap Hage 1 Introduction 2 Two Functions of the Law and Economics Approach 3 The Material Aspect of the Law and Economics Approach 4 The Formal Aspect of the Law and Economics Approach 5 Limitation to Foreseeable Costs and Benefits 6 The Role of Uncertainty 7 A Possible Objection 8 Summary Chapter 4 - Uniformity of European Contract Law An Economic Study Between Logic and Fact. Heico Kerkmeester 1 Defining the Terms: (Behavioural ) Law and Economics 2 The Logic of Law and Economics 3 The Facts of Behavioural Law and Economics 3.1 The Results of Empirical Research: A Brief Overview 3.2 Some Implications for Contract Law 3.3 The European Context: Arguments for Uniformity 3.4 The European Context: Arguments for Diversity 4 How Facts might Support the Logic 4.1 Better Prediction? 4.2 Better Understanding? 4.3 More Acceptability? 4.4 Two Sides of a Coin? 5 Conclusions Chapter 5 - The Psychology of Conflict of Laws. Jeffrey J. Rachlinski I Cognitive Limitations in the Democratic Process A Demand for Law and Regulation 1 Availability and Public Policy 2 Representativeness and Statistical Fallacies Affecting Public Opinion 3 Framing and Public Policy B Biases among Public Officials 1 Biases among Legislators 2 Biases among Bureaucrats 3 Biases among Judges C Conclusion II The Debiasing Effect of Mediating Institutions A Path Dependence and Cognitive Errors B How Mediating Bodies Can Avoid Cognitive Error C Identifying Erroneous Legislation: Basic Cognitive Principles III Conclusion Chapter 6 - The Ethical Pluralism of Late Modern Europe and Codification of European Contract Law. Thomas Wilhelmsson 1 Introduction 2 The Uncertainty of the Risk Society and the Necessary Fragmentation of Law 3 The Ethical Uncertainty of Late Modern Society and the Need for Legal Contextualism 4 Implications for a Contract Code 5 A Grand Legal Narrative after all: Fundamental Rights? Chapter 7 - Diversity of Contract Law and the European Internal Market. Jan M. Smits 1 Introduction: Aim of this Contribution 2 The Present Situation in European Contract Law: Diversity of Legal Systems 2.1 Four Contract Law Regimes 2.2 National Legal Systems 2.3 Contract Law of European Origin: Directives 2.4 The Vienna Convention on the International Sale of Goods (CISG) 2.5 Divergence within One Country 2.6 Problematic Aspects of Diversity within the European Union 3 Diversity Through the Community Acquis 4 Diversity of National Legal Systems 4.1 Introduction 4.2 The Traditional Argument in Favour of Harmonisation 4.3 Empirical and Anecdotal Evidence 4.4 Economic Theory on Growth of the Economy and National Borders 4.5 Behavioural Analysis: From Homo Economicus to Homo Psycho-economicus 4.6 The Economic Argument against Unification 5 Concluding Remarks Authors

Reviews

J.A. Sanchez-Dafos in I.C.C.L.R. 2006, p. 114-115: "this book provides a high discussion of legal, economic and philosophical issues which may arise in the pursuit of a uniform European contract law set of rules".