-for-money in terms of alignment with those managers' intended investment strategies and processes. More participatory research …

We analyze noncontractible investments in a model with shading. A seller can make an investment that affects a buyer …

A bilateral trading model with investment is considered. In a "cooperative" investment version of the model, the seller …'s investment stochastically determines the buyer's valuation of the good. The value and cost of the good are realized only after … the investment is made, and the investment level and the realization of the good's value and cost are private information …

predicts that some commonly used types of breach remedies may protect too well, in the sense that they induce over-investment … provide, and the potential possibility to prevent breach by increasing the damage payment due through the investment made. The … damages, (ii) expectation damages and (iii) reliance damages. In line with theoretical predictions we find that over-investment …