The recent emergence of blockchains may be considered a critical turning point in organizing collaborations. We outline the historical background and the fundamental features of blockchains and present an analysis with a focus on their role as governance mechanisms. Specifically, we argue that...

Building on the Herstein-Milnor mixture set axiomatization of expected utility theory, we employ multiple mixture operators each modeling a source of uncertainty to arrive at a definition of rich mixture sets. This enables a weakening of the reduction of compound lottery axiom leading to an...

We axiomatize subjective probabilities on finite domains without requiring richness in the outcome space or restrictions on risk preference using Event Exchangeability (Chew and Sagi, 2006), which has been implicit in the prior literature (Savage, 1954; Machina and Schmeidler, 1992; Grant, 1995). In...

In this paper, the equivalence operations on game forms, first proposed in Thompson (1952) and latter modified by Elems and Reny (1994), are recast into the operations of Conflating and Duplication Pruning. They provide a new characterization of normal-form equivalence between game forms....

Motivated by the sure-thing principle (STP) in Savage (1954), we offer a new solution concept—STP-obvious dominance (STP-OD) equilibrium—for dynamic games in which the obviousness of the dominating strategy (Li, 2017) may be facilitated by players’ application of the sure-thing principle...

Leveraging a longitudinal dataset concerning 102 inter-firm disputes, we evaluate the effects of contract structure on trust and on the likelihood of continued collaboration. We theoretically refine and empirically extend prior research by (a) distinguishing between control and coordination...

This paper investigates how contract structure influences inter-firm dispute resolution processes and outcomes by examining a unique dataset consisting of over 150,000 pages of documents relating to 102 business disputes. We find that the level of contract detail affects the type of dispute...

The contracting process is a crucial step in alliance development and its success. However, the existing literature reveals surprisingly little investigation into how organizational learning relates to the process of contract making. We therefore conducted an in-depth longitudinal study of the...