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In this paper I demonstrate the existence an initial incomplete contract that can subsequently be renegociated to the set of first best allocations in a fairly geneal principal-agent model when the state space is continuous.
Persistent link: https://www.econbiz.de/10005638888
In this paper a stylized labour contarct model is constructed where it is shown that when contracts are enforced by a … amended by assuming that the court uses an at-will rule to enforce contracts. …
Persistent link: https://www.econbiz.de/10005638901
In this paper a stylized labour contarct model is constructed where it is shown that when contracts are enforced by a … amended by assuming that the court uses an at-will rule to enforce contracts. …
Persistent link: https://www.econbiz.de/10005748028
In this paper I demonstrate the existence an initial incomplete contract that can subsequently be renegociated to the set of first best allocations in a fairly geneal principal-agent model when the state space is continuous.
Persistent link: https://www.econbiz.de/10005225378
Hart & Moore (1999) construct a model to show that contracts perform poorly when the state of the world is unverifiable …
Persistent link: https://www.econbiz.de/10014135183
Persistent link: https://www.econbiz.de/10005572155
Persistent link: https://www.econbiz.de/10005775628
In real markets, price adjustment and the matching of buyers and sellers involve considerable exchange of information …
Persistent link: https://www.econbiz.de/10005634425
Persistent link: https://www.econbiz.de/10005780423
Existing theories typically focus on asymmetric information to explain delays in bargaining. This is not always … surplus; contracts are incomplete; and the parties are wealth constrained. …
Persistent link: https://www.econbiz.de/10005574851