In everyday life, many of our choices are made with incomplete information. Uncertainty and the high cost of obtaining information render decision-making under incomplete information, in a sense, inevitable. Especially in complex contracts with banks, insurers, or service providers, important risks are often overlooked. When combined with behavioral biases, freedom of contract may in reality become, as Rona Serozan once described it, “nothing other than the freedom of the fox roaming freely in the chicken coop.” Information asymmetry thus not only undermines contractual justice but also creates incentives for providers to exploit their informational advantage, further aggravating market failures.

Against this backdrop, the Rona Serozan Foundation for Comparative Legal Research will host a conference entitled “Information Asymmetry as a Problem of Contractual Justice and Possible Solutions” on 17 November 2023. The event will address how Turkish private law responds to this issue, drawing on interdisciplinary and comparative law perspectives, and will provide a platform to discuss possible legal solutions.

Please click here for the call for papers.