ABSTRACT
Not only politicians and legislators, but also courts and regulatory authorities intervene in the rules of the economy and define the legal framework for market participants. Through their decisions, they can significantly influence the expectations and thus the actions of market participants, creating room for maneuver but also challenging familiar institutional frameworks. This chapter discusses the question of whether and to what extent courts and regulatory authorities take economic expectations into account in their decision-making processes. Do economic expectations play a role at all in government agencies and courts? And if so, how do the legal players form their expectations and base their decision-making processes on them? It can be shown that courts and regulatory authorities deal with a dynamic expectation management that contains both coordinative and conflictual elements.
