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 …

promisee to receive no damages. To give efficient incentives to both parties, we propose a novel contract requiring the … contract "anti-insurance" because it strengthens incentives by magnifying risk, whereas insurance erodes incentives by …

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 …