Choi, Stephen J.; Gulati, Mitu; Panizza, Ugo; Scott, … - 2024
Contract terms that improve or reduce the likelihood of repayment of a debt should impact its price. That's basic … economics. But what about a contract that is hundreds of pages long and has lengthy and complex terms that even the lawyers are … obscure contract terms will be priced at the outset if there are profits to be made by exploiting these variations. An …