We present a general model of two players contest with two types of efforts. Contrary to the classical models of … contest, where each player chooses a unique effort, and where the outcome depends on the efforts of all the players …, job promotion competitions, or sport contests. We study the general model of contest with attacks and defence and propose …

suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they …

require long-term commitments. Landowners, however, can decide to prematurely terminate the contract when the opportunity cost … views non-enforcement of contract terms as a source of real-options, the paper offers the following contributions. First, it … play in avoiding such potential bias in contract allocation. …

. By exploiting the real-option approach, we examine how the inability to force sellers to meet the contract time … when the contract does not provide for any compensation for late-delivery. …