optimal contract duration. We study the trade-off between contracting costs due to repeated bilateral bargaining and the risk … of transaction cost economics, whereas the need for flexibility reduces contract duration. With increasing bilateral … trading experience between the same trading partners, contract duration decreases. We additionally observe that countries …

usually roll over: a leading example is a standard employment contract. We argue that what distinguishes a continuing contract … from a short‐term (or fixed‐term) contract is that parties apply notions of fairness, fair dealing, and good faith as they … revise the terms of the contract: specifically, they use the previous contract as a reference point. We show that a …

We study the optimal duration of contracts in a principal-agent framework with both moral hazard and adverse selection …. Agents decide on a contract-specific and non-verifiable investment. Incentive compatibility requires that initial contracts …

contract modifications but not the hazard rate of a head coach's dismissal. Additionally, analysis of employment duration … employment survival, these studies ignore the impact of contract modifications. Using an accelerated failure time survival model … with hand-collected college head football coach contract data, I find that race/ethnicity affects the hazard rate of …

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. …