employment contract. We show that not imposing such an agreement can be beneficial for the principal as the possibility to leave …

achieved by writing a contract that specifies a suffciently high quality level. In contrast, the result by Che and Chung (1999 … hybrid case. We also show that if the quality specified in the contract is too low, 'expectation damages' do not necessarily …

A loss averse buyer and seller face an uncertain environment. Should they write a long-term contract or wait until the … the long-term contract constitutes the reference points to which the parties compare gains and losses of the renegotiated … transaction. Whereas Herweg and Schmidt assume that the long-term contract is always performed, it is actually preferably that it …

Trust between parties should drive the negotiation and design of contract: if parties did not trust each others … over time, we find that lower trust increases contract completeness. Not only contract complexity but also the verifiable …

A loss-averse buyer and seller face an uncertain environment. Should they write a long-term contract or wait until the … the long-term contract constitutes the reference point to which the parties compare gains and losses induced by the … renegotiated transaction. Whereas Herweg and Schmidt consider that the long-term contract is always performed, it should not in …

Trust between parties should drive contract design: if parties were suspicious about each others' reaction to unplanned … across space and over time, we find that lower trust increases contract completeness. Not only the complexity but also the …-analysis-based measures of contract completeness and do not arise in falsification tests. At the clause level, we find that non …