June 24，Professor Liu Zhiyong of Georgia State University in the United States gave an academic report entitled "Economic Analysis of Contract Breach of Contract Losses" in the lecture hall on the first floor of the Bet365 App Scientific Research Building。Reported by Professor from Shandong University Economic Research Institute、Hosted by Professor Wei Jian, part-time doctoral tutor at the Law School。

Professor Liu Zhiyong uses an all-English reporting method，From the perspective of legal and economic analysis, it analyzes how the contract breach of contract loss compensation mechanism can provide people with optimal behavioral incentives。First，Professor Liu Zhiyong introduced the basic theory of legal economic analysis，Point out that empirical analysis and normative analysis are the basic methods of legal economic analysis，Explains two definitions of efficiency: Pareto improvement and wealth maximization，Analyzed the constraints of the Coase theorem: clear property rights and zero transaction costs。Secondly，Professor Liu Zhiyong used mathematical Bet365 Pokermodels to analyze the breach of contract loss compensation mechanism of incomplete contracts under symmetric information，The following conclusion is drawn: Under the constraints of bilateral uncertainty and private information，Optional contract damages are more efficient than Exclusive liquidated damages，Because it overcomes the obstacle of information asymmetry，This clause shall therefore be enforced。Again，Professor Liu Zhiyong used mathematical models to analyze that the court should determine the amount of compensation for breach of contract based on prior information，The reason why post-event information should not be integrated into the amount determination process。On the relationship between the accuracy of loss measurement and the superiority of ex ante behavioral incentives，Professor Liu Zhiyong also put forward his own insights。Last，Professor Liu Zhiyong introduced the current status of legal economic analysis in the United States，Believe that law and economics are a perfect combination，Has strong vitality。

Professor Liu Zhiyong’s report selected the unique perspective of economic analysis and bet365 best casino gamesthe novel approach of law and economics，Inspiring，This caused a strong response from the students present。Questions for students on site，Professor Liu Zhiyong also patiently answered everything。

Text:Cheng Qing, Cheng Yan, editor: Fa Xuan