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Overcoming contractual incompleteness : the role of guiding principles
Frydlinger, David; Hart, Oliver - 2019 - Revised, August 2019
Persistent link: https://www.econbiz.de/10012120102
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On and off contract remedies
Brooks, Richard; Stremitzer, Alexander - 2009
A party dissatisfied with the contractual performance of a counterparty is typically able to pursue a variety of legal recourses. Within this apparent variety lurk two fundamental alternatives. The aggrieved party may (i) 'affirm' the contract and seek money damages or specific performance; or...
Persistent link: https://www.econbiz.de/10003909321
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Interpreting contracts : the purposive approach and non-comprehensive incentive contracts
Bental, Benjamin; Deffains, Bruno; Demougin, Dominique - In: European journal of law and economics 50 (2020) 2, pp. 241-265
Persistent link: https://www.econbiz.de/10012309689
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Contract law and contract theory : a survey and some considerations
Danau, Daniel - 2019
Persistent link: https://www.econbiz.de/10012098957
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Chapter 1 Contract Law
Hermalin, Benjamin E.; Katz, Avery W.; Craswell, Richard - In: Handbook of law and economics : volume 1, (pp. 3-138). 2007
This chapter surveys major issues arising in the economic analysis of contract law. It begins with an introductory discussion of scope and methodology, and then addresses four main topics that correspond to the major doctrinal divisions of the law of contracts. These divisions include freedom of...
Persistent link: https://www.econbiz.de/10014023515
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Noncontractible investments and reference points
Hart, Oliver D. - In: Games 4 (2013) 3, pp. 437-456
We analyze noncontractible investments in a model with shading. A seller can make an investment that affects a buyer …’s value. The parties have outside options that depend on asset ownership. When shading is not possible and there is no …, with shading, such a contract creates deadweight losses. We show that an optimal contract will limit the seller’s offers …
Persistent link: https://www.econbiz.de/10009785337
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Loss aversion and inefficient renegotiation
Herweg, Fabian; Schmidt, Klaus M. - In: The review of economic studies 82 (2015) 1, pp. 297-332
Persistent link: https://www.econbiz.de/10011720069
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How long-term contracts can mitigate inefficient renegotiation arising due to loss aversion
Göller, Daniel - 2020 - [Revidierte Fassung]
A loss-averse buyer and seller face an uncertain environment. Should they write a long-term contract or wait until the state of the world is realized? I show that simple long-term contracts perform better than insinuated in Herweg and Schmidt (2015), even though loss aversion makes renegotiation...
Persistent link: https://www.econbiz.de/10012542436
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Loss aversion and inefficient renegotiation : conference paper
Herweg, Fabian; Schmidt, Klaus M. - 2014 - This version: December 9, 2013
We propose a theory of inefficient renegotiation that is based on loss aversion. When two parties write a long-term contract that has to be renegoti- ated after the realization of the state of the world, they take the initial contract as a reference point to which they compare gains and losses...
Persistent link: https://www.econbiz.de/10010487344
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Loss aversion and ex post inefficient renegotiation : conference paper
Herweg, Fabian; Schmidt, Klaus M. - 2013 - This version: November 15, 2012
We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long-term contract that has to be renegotiated after the realization of the state of the world, they take the initial contract as a reference point to which they compare gains and...
Persistent link: https://www.econbiz.de/10010342285