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analysis of contracts under risk, where separation is often feasible. … mitigated by screening contracts that separate informed from uninformed experts. This result stands in contrast with the …
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chapter provides an overview of our ongoing work. The starting point is the Knightian distinction between risk and uncertainty …. In our view, traditional contracting techniques and traditional contract law address problems of risk. Braiding, or … in addressing braided contracts …
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) proposed by two vendors, who offer contracts only if the expected profits of the contracts satisfy their reservation values. We …
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