Abstract

http://ssrn.com/abstract=2307148
 


 



The Economics of the Restatement and of the Common Law


Keith N. Hylton


William Fairfield Warren Distinguished Professor, Boston University; Professor of Law, Boston University School of Law

July 2013

Boston Univ. School of Law, Law and Economics Research Paper No. 13-34
Boston Univ. School of Law, Public Law Research Paper No. 13-34

Abstract:     
The common law process appears to have checks and balances that prevent the self-interest of a particular embedded actor (judge or lawyer) from having a substantial distortive effect. The question that follows is whether the Restatement project is also immune, to the same extent as the common law, from the self-interested incentives of actors involved in its creation. I argue that the Restatement process is far more vulnerable to distortion from self-interest than is the common law process.

Number of Pages in PDF File: 21

Keywords: common law process, Restatement, rule of reason, common law efficiency, utilitarianism and common law, duty and negligence, strict liability, mutual combat

JEL Classification: K00, K13, K19, K39

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Date posted: August 19, 2013  

Suggested Citation

Hylton, Keith N., The Economics of the Restatement and of the Common Law (July 2013). Boston Univ. School of Law, Law and Economics Research Paper No. 13-34; Boston Univ. School of Law, Public Law Research Paper No. 13-34. Available at SSRN: http://ssrn.com/abstract=2307148 or http://dx.doi.org/10.2139/ssrn.2307148

Contact Information

Keith N. Hylton (Contact Author)
William Fairfield Warren Distinguished Professor, Boston University ( email )
595 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
Professor of Law, Boston University School of Law ( email )
765 Commonwealth Avenue
Boston, MA 02215
United States
617-353-8959 (Phone)
617-353-3077 (Fax)
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