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»Legislatively Liquidated Damages. A Regulatory Instrument in German and European Private Law«: Legislatively liquidated damages can innovatively be understood as a regulatory instrument in private law with unique characteristics and effects. This is demonstrated by an analysis of the German and European provisions on late payment and air passenger compensation. Against the constitutional and EU legal background, the doctrinal divergences from conventional liability and damages law as well as the effects on procedural efficiency and behavioural steering are revealed.