ABSTRACT
We are in the midst of a golden age of contract theory. Not because we have figured it out but because it is plentiful, and much of it is deeply considered. Contract law, on the other hand, remains relatively static in the United States.
The stability of contract law is not matched by the discussion of contract theory. Since Ronald Coase first applied neo-classical economic analysis to contract law, contract theory tethered to welfare maximization has raced forward. Nonetheless, welfare centered theories have not ultimately prevailed. Drawing on forms of deontological ethics, theories grounded in visions of personal sovereignty are regularly advanced. And, on a smaller scale, virtue ethics has become a resource for contract theory …
Pryor, C. Scott, Person-Centered Pluralism About Contract Theory (September 13, 2022).
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