The optimal duration of a supply contract balances the costs of re-selecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tradeoff and provide an empirical strategy...

We consider some of the techno-economic characteristics of smart contracts relating to real-world transactions, and the effectiveness of the governance regimes in which they will operate. We find that the requirement to code the precise executable steps ex ante in smart contracts necessitates a...