It was the only section which made me laugh out loud, but it was written from the angle that when both parties to a contract are trying to pull a fast one (and part of that may well be skimping on writing the contract carefully), they will spend more on legal costs than they could possibly have made on the contract. However, this was written as though such events happen on the fringe.
If such behavior has become a lot more common, I don't know how much of it is lack of punishment, and how much is bad cultural ideas, though I grant that they can be intertwined.
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zvi and
Re: Economic incentives to lie
Date: 2011-05-03 06:42 pm (UTC)It was the only section which made me laugh out loud, but it was written from the angle that when both parties to a contract are trying to pull a fast one (and part of that may well be skimping on writing the contract carefully), they will spend more on legal costs than they could possibly have made on the contract. However, this was written as though such events happen on the fringe.
If such behavior has become a lot more common, I don't know how much of it is lack of punishment, and how much is bad cultural ideas, though I grant that they can be intertwined.