Description
How disputes are resolved, and how contract rights are secured, without court-facilitated dispute resolution has been a great area of interest to institutional economists and legal scholars alike. In this lecture, Professor Barak Richman lecture provides an overview and taxonomy of extralegal dispute resolution mechanisms, and a framework to understand and distinguish among the private legal systems heralded in the literature.
References
Bernstein, L. (1992). Opting Out of the Legal System: Extralegal Contractual Relations in the Diamond Industry. Journal of Legal Studies 21, 115.
Clay, Karen. (1997). Trade Without Law: Private-Order Institutions in Mexican California. Journal of Law, Economics, and Organization, 13(1), 202-231.
Coase, Ronald. (1960). The Problem of Social Cost, Journal of Law and Economics, 3, 1.
Ellickson, Robert. (1990). Order Without Law: How Neighbors Settle Disputes. Cambridge, MA: Harvard Univ. Press.
Fafchamps, Marcel. (1996). The Enforcement of Commercial Contracts in Ghana, 24 World Development, 427.
Galanter, Marc. (1981). Justice in Many Rooms: Courts, Private Ordering, and Indigenous Law, Journal of Legal Pluralism 19, 1.
Greif, A. (1993). Contract Enforceability and Economic Institutions in Early Trade: The Maghribi Traders’ Coalition. The American Economic Review, 83(3), 525-48.
Greif, A. (1989). Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders, Journal of Economic History, 49(4), 857-82.
Libecap, G. (1989). Contracting for Property Rights. Cambridge England New York: Cambridge University Press.
Macaulay, Stuart. (1963). Non-Contractual Relations in Business: A Preliminary Study, American Sociological Review, 2(1), 55.
Milgrom, Paul, Douglas North, & Barry Weingast. (1990). The role of Institutions in the revival of Trade: The Law Merchant, Private Judges, and the Champagne Fairs, 2 Econ. & Pol. 1.
Ostrom, Elinor. (1990). Governing the Commons. Cambridge: Cambridge Univ. Press.
Richman, B. D. (2006). How Community Institutions Create Economic Advantage: Jewish Diamond Merchants in New York. Law and Social Inquiry, 31, 383.
