, because with financial performance measures strategic effort can only be rewarded in the future. But renegotiation-proof long …

So far, the existing literature on the hold-up problem with renegotiation has imposed assumptions such that the post-renegotiation …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … auctions if sellers are likely to have superior information about possible design improvements, if renegotiation is costly, and …

unobservable and incomplete contracts with and without renegotiation opportunities under the assumption that the principal cannot … outcomes to a subset of Nash equilibrium outcomes and renegotiation imposes further constraints. Yet, there is a large class of …

-invest in early construction, seeking a renegotiation thereafter. We show that, in a renegotiation-proof contract, the marginal … contractual payoff of the firm is above its renegotiation payoff in the former case, below in the latter. We further show that … when the firm holds private information on the operating conditions, the government may welcome a contractual renegotiation …

For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex … auctions if sellers are likely to have superior information about possible design improvements, if renegotiation is costly, and …