"Welfare vs Rights" in Contract Law Order

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(1) The article "Market Mechanism and the Theory Damages" analyses the theory of "pure economic loss in market oriented torts". It demonstrates the importance to introduce the perspective of "economic torts in the market mechanism" to our civil law system. (2) In the second article "Contract Negotiations and the Market Order", Schmide=Rimpler's "Vertrags Mechanismus" is examined through the "Edgeworth's Box" and presents the deficit of the traditional contract law theory to review the n-person negotiation mechanism in markets. (3) In the third article "Behavioral Psychology of Investers and Deceptive Conducts in the Bargaining Process" psychological machanism of investors is analysed through the "prospect theory of behavioral economics". It demonstrates the necessity of new legal regulations based on the knowlege of "prospect theory" to achieve efficient investment markets as well as protection of investors.