This paper examines the impact of renegotiations on contract renewals. Using an original dataset of procurement … the probability of renewing a contract with the same partner. This result holds only when public authorities have …

contractual foundation into a simple model of global sourcing with culturally dissimilar countries. Entrepreneurs can cooperate … possible outcomes, a flexible contract allows for future adaptation but is associated with ex post haggling cost. By specifying … a single outcome, a rigid contract eliminates future disagreement but precludes beneficial adjustments to the occurring …