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The Economic Structure of Corporate Law

The Economic Structure of Corporate Law

Frank H. Easterbrook, Daniel R. Fischel

ISBN 9780674235397

Publication date: 02/01/1996

The authors argue that the rules and practices of corporate law mimic contractual provisions that parties would reach if they bargained about every contingency at zero cost and flawlessly enforced their agreements. But bargaining and enforcement are costly, and corporate law provides the rules and an enforcement mechanism that govern relations among those who commit their capital to such ventures. The authors work out the reasons for supposing that this is the exclusive function of corporate law and the implications of this perspective.


  • Truly first-rate...Arguably the most important--and most readable--corporate law book ever. A classic...Certain to change the way corporate law is taught, understood, and possibly even made.

    —Robert M. Daines and Jon Hanson, Yale Law Journal


  • Frank H. Easterbrook is a judge of the U.S. Court of Appeals for the Seventh Circuit.
  • Daniel R. Fischel is Lee and Brena Freeman Professor of Law at the University of Chicago.

Book Details

  • 384 pages
  • 6-1/8 x 9-1/4 inches
  • Harvard University Press