Publication Date

Summer 1983


[Excerpt] Market intervention by the courts may take many forms and may occur in a variety of contexts. Sometimes even the most obscure types of judicial decisions can exert a significant impact on the efficiency of exchange (i.e., the price-quality equilibrium) in the market. Consequently, one criterion for evaluating legal precedent is its impact, if any, on the efficiency of exchange in the market.


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© Harvard Journal of Law and Public Policy. Reprinted with permission. All rights reserved.