Professional Documents
Culture Documents
ANALYTIC FRAMEWORKS
Rules v. Standards: Rules are bright lines, good for Admin Cost & predictablity. Standards are loose principles that guide decisions
in order to consider context and get cases “right”
• However, rules sometimes work
• Juries are imperfect, rules good for em
• Rules an Standards trade off
Formalism v. Functionalism
• Apply rule mechanically vs. use rules to achieve results
Welfarism, Utilitarianism vs. Rights
Torts v. Contracts: Assign liability through default rules that parties may “Contract around”
• Coase Theorm: Doesn’t matter where the liability is imposed – parties allocate losses to the one able to bear the
cost most effectively and split the difference
• Stranger cases v. relational cases: Torts essential to compensating for the inability of strangers to coordinate and
distribute losses efficiently
Injunctions v. Damages