Basili, Marcello; Franzini, Maurizio - Dipartimento di Economia e Diritto, Facoltà di Economia - 2002
explanation for contractual incompleteness with respect to the traditional approach in terms of transactions costs. This paper … possible to generalize the Mukerji (1998) approach to contractual incompleteness. In fact, it shows that incomplete contracts … are costly and that, before reaching the conclusion that ambiguity leads to contractual incompleteness, their costs should …