36

This paper assesses how two traditions, namely the economics of contracts and the economics of conventions, incorporate the legal framework of the labor relation in their analysis of the employment relationship. A comparison of these views not only offers different conceptions of the employment relationship, but also gives some indication as to the links between economic analysis and the national legal environment. Indeed, the theory of contracts is of Anglo-Saxon origin while the economics of convention is a French school of thought. Two questions are addressed to these traditions. First, how important are legal rules for the analytical construction (positive aspect)? And, second, how are these legal rules perceived in terms of efficiency (normative aspect)? Classification JEL: Z10