ante, we compare two contracting regimes; one with commitment to an ex ante negotiated contract, and one with an ex interim … negotiated contract. The ex ante contract can not have too strong incentives, but attempts to negotiate a stronger ex interim … contract may result in bargaining failure. The relative efficiency of the two contracting regimes therefore depends on …

effect of renegotiation costs on initial contract terms. TD9599 materially reduced the tax burden of renegotiating U … setting, we examine the implications of incomplete contracting theory for debt contract design. Consistent with incomplete …