party autonomy in international family law: an economic perspective
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PARTY AUTONOMY IN INTERNATIONAL FAMILY LAW
-‐ An Economic Perspective -‐
Jurčys Paulius ユルチス ポール
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outline
• Party autonomy & international family law
• Marriage as a contract?
• Economic rationale of party autonomy
• If marriage is more than a contract?
• Observations
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1. PARTY AUTONOMY & INTERNATIONAL FAMILY LAW
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UK SUPREME COURT (2010): Radmacher v Granatino
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1. PIL BACKGROUND: Expansion of Party autonomy in IFL
Party autonomy in IFL • Law governing matrimonial property
• Law governing divorce and other consequences
• Choice of law in other areas: succession, maintenance
Limitations • Public policy
• Protection of weaker parties (children)
• Sovereignty, comity
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1. PIL BACKGROUND: Expansion of Party autonomy in IFL
Socio-‐economic justifications
• Equal status of husband & wife
• Globalization & mobility of persons
Legal Justifications
• Constitutional traditions and natural rights theory
• Extension of private autonomy
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2. MARRIAGE AS A CONTRACT -‐ PIL -‐
Simon Bruce: “Pre-‐nups are like a form of fire insurance -‐ far better taken out before the event”
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2. MARRIAGE AS A LONG TERM CONTRACT
Specialization theory
• Marriage as an institution for raising children; sharing costs of living etc.
Investment theory
• Marriage as a guarantee for investment (i.e. alimony compensation for loss )
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2. MARRIAGE – A LONG TERM CONTRACT Economic justifications
Functions of party autonomy in IFL:
• Market conform transactions
• Efficiency & legal certainty
• Competition of legal systems
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2. MARRIAGE AS A LONG-‐TERM CONTRACT Economic justifications
Limitations of party autonomy in IFL:
• Information asymmetries
• Externalities (taxes, parents and children)
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4. IS MARRIAGE JUST A CONTRACT?
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3. MARRIAGE: More than a contract
Marriage as a SIGNAL
• Marriage vs. other forms of relationship
Individualization theory (Luhmann)
• if A loves B, certain issues that would not otherwise matter become important (e.g. B curious whether A had breakfast etc.)
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3. MARRIAGE AS A SIGNAL
PERSON PERSON
AUDIENCE
traditional economic theories
signaling function Marriage
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MARRIAGE AS A SIGNAL: Implications to Party Autonomy (1)
“Surplus value” of marriage
• How to conceptualize it? Relation to the existing economic justifications of PA
• A different perspective to “public policy” argument which was used to justify the limitations of party autonomy
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MARRIAGE
CUSTODY
DIVORCE
MATRIMONIAL PROPERTY
Number of Stakeholders
Scope of Party Autonomy
MAINTENANCE
MARRIAGE AS A SIGNAL: Implications to Party Autonomy (2)
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MARRIAGE AS A SIGNAL: Implications to Party Autonomy (3)
SURPLUS VALUE OF MARRIAGE
PARTY AUTONOMY
EXPAND? RESTRICT?