, competition does not eliminate but rather exacerbates inefficiencies arising from contracting with focused agents. Common contract …

make external financing costly, the optimal contract between shareholders and employees involves some degree of risk …

-invest in early construction, seeking a renegotiation thereafter. We show that, in a renegotiation-proof contract, the marginal …

Trust between parties should drive the negotiation and design of contract: if parties did not trust each others … over time, we find that lower trust increases contract completeness. Not only contract complexity but also the verifiable … states of the world contracts cover increase after a drop in trust. The results hold for several text-analysis-based measures …

consumer electronics, and club memberships. We demonstrate that consumption is affected by contract structure (pay-peruse vs …. We also measure subjects' willingness to pay for a contract with free access units, and we find that nearly half of … strategy is therefore to offer a contract that pre-sells access units at a very small discount; this strategy increases revenue …

. Previous literature shows that contracts require payments to third parties, which real-world contracts rarely use. I show that … stochastic contracts, like uncertain arbitration procedures or payments in stock options. These contracts incentivize employees …