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Luca Anderlini, Leonardo Felli and Alessandro Riboni
In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably incomplete, this confers an advantage to the Statute Law regime over the Case Law one. However, all Courts rul...Read more...
Luca Anderlini, Leonardo Felli and Andrew Postlewaite
We study a contracting model with unforeseen contingencies in which the court is an active player. Ex-ante, the contracting parties cannot include the risky unforeseen contingencies in the contract they draw up. Ex-post ...Read more...