Ramdev Food Products Pvt Ltd. was amongst the first few companies to venture into branded spices. The spices market in India was largely an organised sector. The company grew from a small flour mill to a big concern with a decent product mix within a short span. The turnover of the company grew...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...