Abstract

http://ssrn.com/abstract=1499414
 
 

Citations (1)



 
 

Footnotes (25)



 


 



ProCD v. Zeidenberg and Cognitive Overload in Contractual Bargaining


Eric A. Posner


University of Chicago - Law School

November 3, 2009

University of Chicago Law Review, Vol. 77, No. 4, 2010
U of Chicago Law & Economics, Olin Working Paper No. 492

Abstract:     
Judge Frank Easterbrook’s opinion in ProCD v. Zeidenberg has been heavily criticized for ignoring the law and making unrealistic assumptions about the ability of consumers to read and understand contract terms. This contribution to a symposium on Judge Easterbrook’s judicial output argues that the opinion is a classic example of the manipulation of legal doctrine to advance a policy goal - here, enabling sellers to communicate contract terms when buyers’ time and attention are limited. Contrary to the conventional wisdom, Judge Easterbrook implicitly assumes that buyers are fallible, not hyperrational; his doctrinal solution persuasively addresses the problem of cognitive overload while endorsing a valuable business tool - the “terms later” or “rolling” contract - that reduces the cost of transacting.

Number of Pages in PDF File: 16

Keywords: Frank Easterbrook

working papers series





Download This Paper

Date posted: November 4, 2009  

Suggested Citation

Posner, Eric A., ProCD v. Zeidenberg and Cognitive Overload in Contractual Bargaining (November 3, 2009). University of Chicago Law Review, Vol. 77, No. 4, 2010; U of Chicago Law & Economics, Olin Working Paper No. 492. Available at SSRN: http://ssrn.com/abstract=1499414 or http://dx.doi.org/10.2139/ssrn.1499414

Contact Information

Eric A. Posner (Contact Author)
University of Chicago - Law School ( email )
1111 E. 60th St.
Chicago, IL 60637
United States
773-702-0425 (Phone)
773-702-0730 (Fax)
HOME PAGE: http://www.law.uchicago.edu/faculty/posner-e/
Feedback to SSRN


Paper statistics
Abstract Views: 1,853
Downloads: 417
Download Rank: 39,892
Citations:  1
Footnotes:  25

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.266 seconds