theory is a modern version of Aristotle's description of contract as voluntary commutative justice. We show how that idea can … thesis is that, in principle, a contract of exchange should be enforced when it is economically fair and voluntary. It is … govern when a contract of exchange is enforced: unconscionability, liquidated damages, consideration, impracticability …

wholesale price contract, theory proposes coordinating contracts. However, a common finding of experimental studies testing such … preferences for fairness causing contract rejections. Can the supply chain performance be improved with a contract designed … allowing for this type of information asymmetry? What does this contract (mechanism) look like? Academic/practical relevance …

method. We show that the rationality of the policyholders has a significant effect on average contract value and hence on the … fair contract design. We also present the separating boundary between purely exogenous surrender and endogenous surrender … contracts ; surrender guarantee ; limited rationality ; fair contract analysis …

this and predominantly choose the bonus contracts, even preferring a pure bonus contract over a contract that combines the … enforcement power of explicit and implicit incentives. This contract preference is associated with the fact that explicit … recently developed theories of fairness, which also offer interesting new insights into the interaction of contract choices …

salaries in the bonus contract as compared to an incentive contract. Originality/value The study contributes to the behavioral … economic literature in the following dimensions. The existing literature on lab experiments considers a bonus contract as … better than the debt contract; however, it does not consider the trust contract better than the debt contract. …