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

Neither marriage nor a legally enforceable contract serves any useful purpose if the parties have access to a perfect … enforceable contract. Separate-property marriage may reduce and community-property marriage actually eliminate inefficiency, but …

Under weak contract enforcement the trading parties' trust, defined as their belief in other's trustworthiness, appears … important for realizing gains from trade. In contrast, under strong contract enforcement beliefs about other's trustworthiness … appear less important, suggesting that trust and contract enforcement are substitutes. Here we show, however, that trust and …