In the early models of incomplete contract neither party used to invest in the subject matter of the contract; those … realize subsequent to a binding contract, a systematic analysis has been attempted to see - first, how the legal remedies can … role than that has been realized. Focus remains on the ex-ante design of the contract, which would serve as an implicit …

, eds.), surveys major issues arising in the economic analysis of contract law. It begins with an introductory discussion of … contracts. These areas include freedom of contract (i.e., the scope of private power to create binding obligations), formation … of contracts (both the procedural mechanics of exchange, and rules that govern pre-contractual behavior), contract …

, including Hotwire and Priceline, brought the power of contract exchanges directly to consumers, allowing regular people to flex … benefit of consumer borrowers and investors.Modern contract law usually bends over backwards to protect consumers, so one …Businesses and sophisticated parties have long used “contract exchanges,” like the Chicago Board of Trade, to obtain a …

A smart contract is an agreement enforced by blockchain technology. It supposedly allows the parties involved to … conduct transactions more efficiently than a traditional contract, which is based on legal (costly) enforcement. This chapter …

This entry discusses alternative theories of contract choice and design with special emphasis on (i) the interaction … between contract design and contract enforcement and (ii) the explanatory power of alternative theories. After discussing the … primary functions of contract, the entry reviews the assumptions and implications for contract design of the three dominant …

This entry discusses alternative theories of contract choice and design with special emphasis on (i) the interaction … between contract design and contract enforcement and (ii) the explanatory power of alternative theories. After discussing the … primary functions of contract, the entry reviews the assumptions and implications for contract design of the three dominant …

If we set out to justify our contract law to a moral agent, what kind of story should we be aiming to provide? Or, to … sharpen the question, if we cast a critical eye on our contract law, what should we take as its proper moral measure? Should … we test contract law for its effectiveness in protecting the moral rights of promisees and enforcing the moral duties of …

choose and then design the contract to optimally balance the trade-off between incentives to limit the contractor's supply … cannot be easily described in - and enforced within - the contract, the procurer must use other tools to ensure successful …

current employment relationship and work for another firm. We show that the initial parties to a contract have an incentive to …