Economic analysis of contracts

This book explores the profound links between contract law and economic analysis through a comparative study of the Iranian, American and European legal systems. Drawing on the theoretical framework of Law & Economics, the author demonstrates how economic concepts - efficiency, transaction costs and asymmetric information - influence the formation, interpretation and enforcement of contracts.Part I sets out the theoretical foundations of the economic analysis of contracts, drawing on the work of Coase, Posner and Williamson.