Contract Governance Dimensions in Law and Interdisciplinary Research

This book introduces and develops Contract Governance as a new approach to contract theory. While the concept of governance has already been developed in Williamson's seminal article, it has, ironically, not received much attention in general contract law theory. Indeed, Contract Governance appears to be an important and necessary complement to corporate governance and in fact, as the second, equally important pillar of governance research in the core of private law. With this in mind, Grundmann, Möslein, and Riesenhuber provide a novel approach in setting an international and interdisciplinary research agenda for developing contract law scholarship. Contract Governance focuses particularly on the ways in which a governance perspective leads to research questions that have been neglected in traditional contract law scholarship, and how, from a governance perspective, the questions are dealt with in a different manner and style. Combining substantive chapters and commentaries, this collection of essays addresses an array of topics, including: third party impact and contract governance problems in herd behaviour; governance of networks of contracts; governance in long-term contractual relationships; contract governance and rule setting; and contract governance and political dimensions.

1 - Contract Governance: Dimensions in Law and Interdisciplinary Research
2 - The Concept of Herd Behaviour - Its Psychological and Neural Underpinnings
3 - Moral Hazard and Herd Behaviour in the Financial Crisis
4 - Herd Behaviour and Third Party Impact as a Legal Concept - On Tulips, Pyramid Games and Asset-backed Securities
5 - Contract, Uncertainty, and Innovation
6 - Contractual Networks in a Socio-Economic Perspective
7 - Deals - Contractual Governance
8 - Fairness and Reciprocity in Contract Governance
9 - Cooperation, Games, and Economic Theory in Long-Term Relationships
10 - Opportunistic Behaviour in Long-Term Investment Relationships and Legal Answers
11 - Private Regulation and Industrial Organisation: the Network Approach
12 - Flipping Wreck: Lex Mercatoria on the Shoals of Ius Cogens
13 - Innovation and the Role of Public-Private Collaboration in Contract Governance - Governing Global Finance: Towards Contractual Governance
14 - Panel Discussion - Introductory Statements

Stefan Grundmann is Professor of Law at the European University Institute, Florence, where he teaches transnational private law, business law, and legal theory. He also holds a professorship at Humboldt University, Berlin, for private and business law, and has held several international fellowships, currently as Hauser Global Law Professor at New York University. His areas of research interest include general contract law, company law, business law, corporate governance, legal theory, and European Private Law. Born in 1958 in Germany, Stefan Grundmann graduated from the Faculty of Law of Ludwig-Maximilian-University of Munich in 1983, where he also received his two doctorates in Law and in Philosophy. In 1989 he was awarded a Master of Laws (LL.M.) at the University of California (Berkeley). In Halle-Wittenberg he created the first interdisciplinary University curriculum/degree in law and economics. He is co-founder and president of the steering committee of the European Law School. Florian Möslein is Professor of Law at the Philipps University Marburg, where he teaches Contract Law, Company Law, and Capital Markets Law. In addition, he is Schumpeter Fellow at the Munich Centre on Governance (MCG) at Ludwig Maximilians University, Munich. He previously held positions as Professor at the University of Bremen and as Associate Professor at the University of St. Gallen. He has also held several international fellowships, currently at Stanford Law School. His areas of research interest include Corporate Governance, Takeovers and Mergers, and European Private Law. Florian Möslein graduated from the Faculty of Law of the Ludwig-Maximilians-University of Munich in 1998, after having received the degree licence en droit at the University of Paris in 1996. He has also studied business administration and graduated in 1997 with the degree Diplom-Kaufmann. In 1999 he was awarded with the LL.M. in International Business Law at the University of London. Professor Karl Riesenhuber is holder of the Chair for Civil Law, German and European Commercial and Economic Law at Ruhr-Universität Bochum. He previously held positions as Professor at Europa-Universität Viadrina, Frankfurt (Oder) and as assistant lecturer at Cambridge University Faculty of Law. Professor Riesenhuber was Feodor-Lynen Fellow of Alexander von Humboldt-Foundation (1999-2001) and Official Fellow at Wolfson College, Cambridge (2000/2001). He practised law as attorney (Rechtsanwalt) in Berlin at Dr Bezzenberger Law Office from 1995 to 2002. Professor Riesenhuber earned his law degree (Staatsexamen/Referendarexamen) from Albert-Ludwigs Universität Freiburg i.B. (1990) and a degree of Master of Comparative Jurisprudence from the University of Texas at Austin School of Law (1991). He passed the Assessorexamen in Berlin in 1994.