Status Quo Bias, CISG and the Future of the Common European Sales Law

Common European Sales Law ("CESL") is not the first legal instrument directed at the formation of a uniform legal regime applicable to international commercial sales. Not surprisingly its scope overlaps with the scope of the already existing United Nations Convention on Contracts for the International Sale of Goods ("CISG"), which is the default cross-border sales law regime in 23 European Union member states that have adopted the Convention. Unlike the CISG, the CESL has acknowledged an "opt-in" mechanism. However the studies show that when they can choose among alternatives, individuals prefer to leave things as they are. The author argues that status quo bias is a huge barrier in front of the CESL's future success.

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