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...

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...

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...

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...

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....

This study explores the formal and the psychological sides of alliance contracting. In interpreting the findings of a multiple-case study and interviews with juridical experts, we first show potential discrepancies between these two sides of alliance contracting. Our analysis of both formal and...

Contracts and trust are both seen as important aspects of successful collaboration between trading partners. However, the interplay between these two dimensions remains poorly understood. In this paper, we draw upon a framing-based perspective to study the influence of the nature of the...

Nicolai Foss and Libby Weber (2016) propose to augment the micro-foundations of transaction cost economics (TCE) through enriching the bounded rationality concept. They argue that psychological frames and biases, when linked to different hierarchical forms, may give rise to differential, costly...

Scholars across management fields have paid increasing attention to the dark side of interorganizational relationships. We first summarize the concept of the “dark side” and its manifestations in interorganizational relationships. We then map the main findings on the antecedents,...