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In this essay, I will identify one theoretical source of the common antipathy towards form contracts and why it is … misguided. I contend that the hostility towards form contracts stems in important part from an implicit adoption of a promise … contracts can be seen as entirely legitimate-though some form terms may properly be subject to judicial scrutiny that would be …
Persistent link: https://www.econbiz.de/10009466420
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), the principal then responds by offering the agent a (possibly degenerate) menu of contracts that are payoff-equivalent for …'s strategy to be Markov is without loss in the case of deterministic decisions, e.g. when the contracts are deterministic and the …
Persistent link: https://www.econbiz.de/10005824589
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argument concerns the validity of freely-negotiated labour contracts, containing provisions for mandatory retirement. In the … was imposed unilaterally, without negotiated contracts; but the paper also discusses the nature, and economic rationale …, of such contracts that involve the suppression of individual rights in the presumed favour of the majority (if and when …
Persistent link: https://www.econbiz.de/10005827221
In this paper we develop a two period model of a credit market to study the interaction between a monopolistic moneylender and a subsidized microfinance institution. We assume that lenders face a moral hazard problem that is diminished as agents are able to take increased equity positions in...
Persistent link: https://www.econbiz.de/10005837596
building trust and substituting for the difficulty of enforcing contracts internationally. The networks we are interested in …
Persistent link: https://www.econbiz.de/10005839079
building trust and by substituting for the difficulty of enforcing contracts internationally. We study networks which emerge …
Persistent link: https://www.econbiz.de/10005839085
sellers to dynamically and simultaneously bargain the characteristics of distinct procurement contracts. The procurer does not … define detailed procurement contracts. CCM allows procurers to mitigate the relevant problem concerning the lack of …
Persistent link: https://www.econbiz.de/10010597733
collectively. They started organizing the selection and transport of pepper and entered into group contracts with the firm. We use … a non-linear integer simulation model to predict the price level and contractual form (individual or group contracts … for the high supply season, whereas individual contracts are chosen only in the low supply season assuming joint profit …
Persistent link: https://www.econbiz.de/10005805205