Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their …

two economically equivalent contracts - a fixed-term renewable and an open-ended at-will contract. Each contract provides … partners with full flexibility regarding the length and termination of their interaction. When only one contract type is … contract type. However, when both contracts are available offering a fixed-term instead of an open-ended contract is perceived …

and relational contract is needed for incentive provision. We find that rewarding the Agent based on a subjective measure … contract to be self-enforcing. Consequently, when some dimensions of performance can not be objectively determined, it may be …

This paper explores how a relational contract establishes a norm of reciprocity and how such a norm shapes the …

the presumption that a relational contract can establish a norm of reciprocity, I show that generous upfront wages that …

. Focusing on scoring rules, we find a contract that allows the principal to achieve the first best: the principal can induce the …

recourses. Within this apparent variety lurk two fundamental alternatives. The aggrieved party may (i) 'affirm' the contract and … seek money damages or specific performance; or (ii) 'disaffirm' the contract with the remedy of rescission and restitution …. This simple dichotomy of contract remedies applies broadly in both common law and civil law practice. We show here that …