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Cognition and Incomplete Contracts [PDF]
American Economic Review, 2009 Thinking about contingencies, designing covenants, and seeing through their implications is costly. Parties to a contract accordingly use heuristics and leave it incomplete. The paper develops a model of limited cognition and examines its consequences for contractual design. (JEL D23, D82, D86, L22)
Tirole, Jean
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Bounded Rationality and Incomplete Contracts [PDF]
Research in Economics, 2004 This paper explores the link between boundedly rational behaviour and incomplete contracts. The bounded rationality of the agents in our world is embodied in a constraint that the contracts they write must be algorithmic in nature.
Leonardo Felli, Luca Anderlini
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International Outsourcing and Incomplete Contracts [PDF]
Canadian Journal of Economics/Revue canadienne d'économique, 2005 International outsourcing to lower cost countries such as China and India can best be understood through the enrichment of trade models to include concepts from industrial organization and contract theory that explain the vertical organization of ...
Barbara J. Spencer
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Toward a Less Incomplete Contract: Merging Smart Contracts and Esg Metrics Contracts
Tilburg Law ReviewGrowing attention to environmental, social, and governance (ESG) concerns has prompted companies to incorporate conditions and obligations related to ESG indicators into their contracts and other agreements.
Fernanda de Araujo Meirelles Magalhães +1 more
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Optimization of Banking Contract Structure Based on Incomplete Contracting in non interest banking [PDF]
جستارهای اقتصادی, 2020 Contractual incompleteness is essentially related to the “unverifiability” condition and “enforceability” condition. In the complex and uncertain economic environment, financial contract is incomplete.
Kamran Nadri +3 more
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Negotiating incomplete contracts [PDF]
Journal of Strategic Contracting and Negotiation, 2021 When planning is possible, as in predictive environments, comprehensive contracting is not only desirable, but also useful. However, under conditions of fundamental uncertainty, as is the case in non-predictive environments, incomplete contracting approaches likely prevail.
Truls Erikson, Mirjam Knockaert
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Individual and Institutional Ownership, Firm Age and Productivity [PDF]
Journal of Competitiveness, 2021 Total factor productivity represents a dimension of output that cannot be attributed to factors of production; it is unique to the firm, and central to its competitiveness. We posit that ownership structure plays a key role in productivity.
Jun Du +2 more
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Incomplete contracts in dynamic games [PDF]
, 2010 I develop a dynamic model of costly private provision of public goods where agents can also invest in cost-reducing technologies. Despite the n+1 stocks in the model, the analysis is tractable and the (Markov perfect) equilibrium unique. The framework is
Harstad, Bård
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Incomplete Social Contracts [PDF]
Journal of the European Economic Association, 2003 There is a long normative ‘Social Contract’ tradition that attempts to characterize ex-post income inequalities that are agreeable to all ‘behind a veil of ignorance.’ This paper takes a similar normative approach to characterize social decision-making procedures.
Aghion, Philippe, Bolton, Patrick
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Cooperation under Incomplete Contracting [PDF]
SSRN Electronic Journal, 2009 We examine the notion of the core when cooperation takes place in a setting with time and uncertainty. We do so in a two-period general equilibrium setting with incomplete markets. Market incompleteness implies that players cannot make all possible binding commitments regarding their actions at different date-events.
Habis Helga, Herings P. Jean-Jacques
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