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Contract today increasingly links entrepreneurial innovations to the efforts and finance necessary to transform ideas … into value. In this Chapter, we describe the match between a form of contract that "braids" formal and informal contractual … contract have emerged first in markets, and that the common law, and the theory of contract, then play catch-up. Between the …
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Crowdfunding provides the innovation that, before the investment, entrepreneurs contract with consumers. Under demand …
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reveal a new behavioral force: ex ante competition legitimizes the terms of a contract, and aggrievement and shading occur … mainly about outcomes within the contract. -- Contracts ; reference points ; experiment …
Persistent link: https://www.econbiz.de/10003793317
reveal a new behavioral force: ex ante competition legitimizes the terms of a contract, and aggrievement and shading occur … mainly about outcomes within the contract …
Persistent link: https://www.econbiz.de/10012765614
cost. The robust contract generates a seemingly excessive pay-performance sensitivity. The worst-case effort cost is high … contract is misspecified, i.e., when he is offered the robust contract, but his true effort cost is constant. I find that …
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currency turned on the contested semantics of a blockchain-based smart-contract programming language …
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principal is ambiguity averse, and designs a contract which is robust to the worst case effort cost process. Ambiguity divides … the contract into two regions. After sufficiently high performance, the agent reaches the over-compensation region, where … he receives excessive benefits compared to the contract without ambiguity, while after low performance, he enters the …
Persistent link: https://www.econbiz.de/10009427192