Results 11 to 20 of about 13,585 (267)
Insurance law and incomplete contracts [PDF]
The RAND Journal of Economics, 2020 AbstractWe analyze how insurance law can mitigate moral hazard by allowing insurers to reduce or cancel coverage in some circumstances. We consider an incomplete contract setting in which the insurer may obtain information related to the policyholder's behavior through a costly audit of the circumstances of the loss.
Bourgeon, Jean-Marc, Picard, Pierre
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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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A BAYESIAN GAME FOR A PROFIT AND LOSS SHARING CONTRACT
Journal of Islamic Monetary Economics and Finance, 2021 This paper presents a Bayesian game model for a profit-and-loss sharing (PLS) contract. We develop the model in two parts, one for a non-social bank and the other for a social bank.
Djaffar Lessy +2 more
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Incomplete Contracts in Dynamic Procurement [PDF]
SSRN Electronic Journal, 2019 We analyze the problem of a buyer who purchases a long-term project from one of several suppliers. A changing state of the world influences the costs of the suppliers. Complete contracts conditioning on all future realizations of the state are infeasible. We show that contractual incompleteness comes without a cost.
Gretschko, Vitali, Pollrich, Martin
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Journal of Agricultural and Resource Economics, 2016 This paper studies how changes in bargaining power alter the surplus distribution and sustainability of incomplete agricultural contracts. When an enforceable payment exists, self-enforcement is always sustainable, the highest quality is traded, and any ...
Salas Paula Cordero
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Incomplete Contracts and Signalling [PDF]
The RAND Journal of Economics, 1992 This article presents a principal-agent model in which asymmetric information leads to contractual incompleteness. I show that in the presence of transactions costs, incompleteness may act as a signal of the principal's type. Two types of transactions costs are considered: those incurred ex ante (drafting costs) and those incurred ex post ...
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Opportunism and the Dynamics of Incomplete Contracts [PDF]
International Economic Review, 1993 Summary: This paper studies a buyer-seller relationship where ``quality'' is not contractible but is affected by effort and the seller's privately known innate value. The seller's cost of effort is also private knowledge. Assuming constant outside opportunities, we show that more than two contracts is redundant, the sequence of contracts exhibits ...
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When Penalty Fails: Modeling Contractual Misincentives With Evidence From Portugal ITO Agreements
SAGE Open, 2022 A misincentive is characterized as an incentive producing the opposite effect of motivating or preventing some specific action. In some circumstances, contract penalties such as sanctions and fines on late delivery or low-quality software encourage the ...
Thyago Celso Cavalcante Nepomuceno +4 more
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IT Outsourcing Auctions With Bilateral Efforts and Renegotiation
IEEE Access, 2019 In information technology outsourcing (ITO), contracts are often awarded through reverse auctions, and renegotiations usually take place for contract amendment after the transaction parties exert joint efforts in project quality improvement.
Zhipeng Li, Jianyun Chen
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Personalized medicine industry model development
Management : Journal of Contemporary Management Issues, 2017 Health care is a growing business, but its trajectory patterns are hard to decipher at the moment. This paper provides a short overview of issues important for developing business models for the personalized medicine sector (PM).
Marija Kaštelan Mrak +2 more
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