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the specification of the type of contract to be awarded. Less attention has been paid to the incompleteness of the … contract; this issue is relevant in the public work sector because it offers room for the contract renegotiation and, therefore … procedures (i.e. negotiation vs. auction) on the contract renegotiation in the public work sector. The results show that, in …
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. This review examines one of the main insights of the theory of incomplete contracts: that legal enforcement alone cannot …
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Property rights provide incentives to create information but also incentives to hoard it before award of protection. Even after award, others who might supplement that idea lack bargaining power until they too secure property rights. An unintended consequence is to slow, not hasten, progress...
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theory of relational contract in the employment context … realm of contract lawyers - corporate culture, office politics, trust, future planning, and the complex social matrix of … organizational life - are the exclusive domain of norms. Bundled together, work norms form a contract, a relational contract, which …
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We consider default rules for instances in which parties to a contract did not allocate the risk of a certain … contingency, and both sides could have helped avoid the occurrence of breach of the contract or lessen the damages from it … the optimal level of precautionary costs and to allocate the steps to be taken to the low cost bearer. -- Contract Law …
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