Abstract

http://ssrn.com/abstract=199849
 
 

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From Politics to Efficiency in Choice of Law


Erin A. O'Hara O'Connor


Vanderbilt University - Law School; Gruter Institute for Law and Behavioral Research

Larry E. Ribstein (Deceased)


University of Illinois College of Law; PERC - Property and Environment Research Center

December 1999

George Mason Law and Economics Working Paper No. 00-04

Abstract:     
This article proposes a comprehensive system for choice of law that is designed to enhance social wealth by focusing on individual rather than governmental interests. To the extent practicable, parties should be able to choose their governing law. In the absence of an explicit agreement, courts should apply rules that facilitate party choice or that select the law the parties likely would have contracted for -- that is, the law of the state with the comparative regulatory advantage. The system relies on clear rules that enable the parties to determine, at low cost and ex ante, what law applies to given conduct, and therefore to choose the applicable law by altering their conduct. State regulatory concerns are accounted for through explicit state legislation on choice of law rather than ad hoc judicial determination of the states' interests. The article shows how this system might be implemented through jurisdictional competition.

Number of Pages in PDF File: 66

JEL Classification: K11, K12, K13, K22, K41

working papers series


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Date posted: December 27, 1999  

Suggested Citation

O'Hara O'Connor, Erin A. and Ribstein (Deceased), Larry E., From Politics to Efficiency in Choice of Law (December 1999). George Mason Law and Economics Working Paper No. 00-04. Available at SSRN: http://ssrn.com/abstract=199849 or http://dx.doi.org/10.2139/ssrn.199849

Contact Information

Erin A. O'Hara O'Connor
Vanderbilt University - Law School ( email )
131 21st Avenue South
Nashville, TN 37203-1181
United States
615-322-3025 (Phone)
615-322-6631 (Fax)
Gruter Institute for Law and Behavioral Research
158 Goya Road
Portola Valley, CA 94028
United States
Larry Edward Ribstein (Deceased) (Contact Author)
University of Illinois College of Law ( email )
504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
217-244-9881 (Phone)
217-244-1478 (Fax)
PERC - Property and Environment Research Center
2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

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