Key points are not available for this paper at this time.
Charles J. Goetz, Robert E. Scott, Liquidated Damages, Penalties and the Just Compensation Principle: Some Notes on an Enforcement Model and a Theory of Efficient Breach, Columbia Law Review, Vol. 77, No. 4 (May, 1977), pp. 554-594
Goetz et al. (Sun,) studied this question.