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 …

-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 …

The paper reviews empirical findings on executive compensation in light of marginal productivity and contract theories …

We model imperfect contract enforcement when repudiators and their victims default to spot trading. The interaction … between the contract and spot markets under improved enforcement can exacerbate repudiation and reduce contract execution …, harming all traders. Improved contract execution benefits traders on the excess side of the spot market by attracting …