73 Calif. L. Rev. 1432 (1985)
Damages for Breach of Contract

handle is hein.journals/calr73 and id is 1446 raw text is: California Law Review
VOL. 73                      OCTOBER 1985                        No. 5
Copyright  1985 by California Law Review, Inc.
Damages for Breach of Contract
Robert Cooter
and Melvin Aron Eisenberg
TABLE OF CONTENTS
PAGE
I. THE MEANING OF INJURY AND COMPENSATION ........... 1435
II. BASIC DAMAGE FORMULAS ............................... 1438
A.   Substitute-Price ....................................... 1439
B.  Lost-Surplus .......................................... 1439
C.  Opportunity-Cost ...................................... 1440
D.   Out-of-Pocket-Cost .................................... 1442
E. Diminished-Value ..................................... 1442
F   Add-Ons and Offsets .................................. 1442
III. COMPENSATORY DAMAGES AND MARKET STRUCTURE .... 1444
A. Perfectly Competitive Markets ......................... 1445
L The Traditional Model of Business Conduct in
Perfectly Competitive Markets ..................... 1445
2. The Statistical-Planning Model of Business Conduct
in Perfectly Competitive Markets ................... 1449
B. Imperfectly Competitive Markets ....................... 1451
1. The Traditional Model of Business Conduct in
Imperfectly Competitive Markets ................... 1451
2. The Fishing Model of Business Conduct in
Imperfectly Competitive Markets ................... 1455
IV. WHAT MEASURE OF DAMAGES SHOULD THE LAW
PREFER? ..................................................   1459
A.   The General Case ..................................... 1459
1.  Performance ...................................... 1462
2.  Precaution  ........................................ 1464
3.  Reliance  ..........................................  1465

1432

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