Breach of Contract

The book "Breach of Contract" by Oliver Hofmann offers a comprehensive analysis of the topic of "Efficient Breach" in the context of law and economics. It examines the legal means that encourage contracting parties to fulfill contracts only when it is efficient to do so. Through a detailed comparison of the two predominant legal remedies for breach of contract – specific performance and expectation damages – the complexity of this issue is illuminated under more realistic assumptions. The author analyzes how market structures, information asymmetries, and deviations from the rational choice model affect contract performance. The application of game theory allows the reader to better understand the impact of various assumptions on market structure and information distribution. The consistent game-theoretical models throughout the book promote a deep understanding of the topic and the associated challenges.