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We study the cost of breaching an implicit contract in a goods market. Young and Levy (2014) document an implicit … contract between the Coca-Cola Company and its consumers. This implicit contract included a promise of constant quality. We … followed New Coke's introduction was a response to the implicit contract breach. …
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The article proposes a research program to compare game forms in terms of their ability to govern ex post adjustments to ex ante contracts. The comparisons can be based on direct implementation-costs or the extent to which desirable adjustments are not implemented. In several examples of the...
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The article proposes a research program to compare game forms in terms of their ability to govern ex post adjustments to ex ante contracts. The comparisons can be based on direct implementation-costs or the extent to which desirable adjustments are not implemented. In several examples of the...
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