Judges become ambitious decision makers when they face appellate review. This paper applies a contract theoretic … implemented court accuracy and degrade the contract outcome. Our implications put into perspective the traditional function of … contract output. …

incomplete contract. It is shown that the efficiency of these solutions is very sensitive to the characteristics of the good or …

We view a contract as a list of outcomes. Ex ante, the parties commit not to consider outcomes not on the list, i ….e., these are "ruled out". Ex post, they freely bargain over outcomes on the list, i.e., the contract specifies no mechanism to … structure their choice; in this sense outcomes on the list are not "ruled out". A "loose" contract (long list) maximizes …

controlling the contract price is preferable, as that policy can reduce the problems of holdup but still allow contracts to be …

, being able to remove unfair terms in contracts concluded between consumers and professionals, its content is influenced by …

sicherstellen können. Der optimale Vertrag ist dabei auf die Fähigkeit der Gerichte zu konditionieren, Vertragsbruch oder …

social ties and networks do not promote the type of high-trust relations that are central to traditional relational contract …