Abstract

http://ssrn.com/abstract=253796
 
 

Citations



 


 



From Politics to Efficiency in Choice of Law


Larry E. Ribstein (Deceased)


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

Erin A. O'Hara O'Connor


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


University of Chicago Law Review, Vol. 67, P. 1151, 2000

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.

Keywords: conflict of laws, public choice, procedure, law and economics, civil procedure, contracts, commercial law, product liability, jurisdictional competition, torts

JEL Classification: K11, K12, K13 K22, K41

Accepted Paper Series





Not Available For Download

Date posted: January 5, 2001  

Suggested Citation

Ribstein (Deceased), Larry E. and O'Hara O'Connor, Erin A., From Politics to Efficiency in Choice of Law. University of Chicago Law Review, Vol. 67, P. 1151, 2000. Available at SSRN: http://ssrn.com/abstract=253796

Contact Information

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

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
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