notion of equilibrium that refines the Nash theory in a natural way and answers to most questions raised in the renegotiation …

-post renegotiation (Maskin and Moore (1999)). If one takes a partial implementation approach, as Watson does, we show that non …-forcing contracts do not constitute an intermediate paradigm between implementation with no renegotiation and with ex-post renegotiation …

renegotiation, potentially undermining the credibility of cooperative strategies. To explore this issue, this paper experimentally …

The renegotiation of regulatory contracts is known to prevent regulators from achieving the full commitment efficient … outcome in dynamic contexts. However, assessing the cost of such renegotiation remains an open issue from an empirical … viewpoint. To address this question, we fit a structural principal-agent model with renegotiation on a set of urban transport …

tradeoff may depend on the legal environment. Hypothesis H2 suggests that, to support renegotiation, a bank needs information … agreement, the bank must believe both conditions prevail. Hypothesis H3 predicts the likelihood of renegotiation increases with … the variables explaining the decision to engage (or not) renegotiation and the variables explaining the success (or the …

renegotiation. …

used as commitment devices when it is impossible to commit not to renegotiate them. We characterize renegotiation …. If contracts are observable, then the second mover obtains her best possible payoff given that she plays a renegotiation … externalities and to a model of credibility of monetary policy and show that in both cases renegotiation-proofness imposes a very …

A leading explanation for the lack of widespread mortgage renegotiation is the existence of frictions in the mortgage … securitization process. This paper finds similarly small renegotiation rates for securitized loans and loans held on banks' balance … renegotiation. Consistent with the theory, renegotiation rates are strongly negatively correlated with the degree of informational …