-term contracts. We argue that only if the parties to a unitization contract have unit production shares that are the same as their … cost shares will the contract be incentive compatible. Using a data base of sixty unit operating agreements, we measure the … desirable contract rules for avoiding moral hazard. It also shows how the effects of those rules can be replicated in difficult …

induces more generous contract terms from the seller. When discrimination and communication are possible, the exclusion rate …

During contractual negotiations, parties often make (reliance) expenditures that would increase the surplus should a … contract be made. This paper analyzes decisions to invest in pre-contractual reliance under alternative legal regimes … preliminary understandings reached by the parties. Our results have implications, which we discuss, for various contract doctrines …

We estimate the impact of venture capital (VC) contract terms on startup outcomes and the split of value between the … power to receive more investor-friendly terms compared to the contract that maximizes startup values. Better VCs still …

Two parties sign a contract but before they fully perform they modify the contract. Should courts enforce the modified … to write a contract that is robust to hold-up or that makes the facts relevant to modification verifiable. But … contract technology, e.g., the use of liquidated damages, to ensure commitment are disfavored by courts and subject to …