. By exploiting the real-option approach, we examine how the inability to force sellers to meet the contract time …Time overruns are common in public works and are not confined to inherently complex tasks. One explanation advanced in … when the contract does not provide for any compensation for late-delivery. -- Public Procurement ; Fixed-Price Contracts …

at the time incentives required to ensure compliance with the promised optimal trigger value. We show that ex …Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where … suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they …

at the time incentives required to ensure compliance with the promised optimal trigger value. We show that ex …Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where … suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they …

Article revisits time-honored puzzles, such as the “inverted hierarchy” of contract interpretation, the intractability of …Contract law affects behavior not just directly, by ordering damages, but also indirectly, by providing information on … business with the disputants going forward. Contract law thus affects behavior by shaping reputations and facilitating market …

require long-term commitments. Landowners, however, can decide to prematurely terminate the contract when the opportunity cost … provide for sufficiently strong incentives against early exit. Integrating the literature on scoring auctions with that which … views non-enforcement of contract terms as a source of real-options, the paper offers the following contributions. First, it …

require long-term commitments. Landowners, however, can decide to prematurely terminate the contract when the opportunity cost … provide for sufficiently strong incentives against early exit. Integrating the literature on scoring auctions with that which … views non-enforcement of contract terms as a source of real-options, the paper offers the following contributions. First, it …

how the theory sheds light on real-life gems problems arising in the multi-million dollar transactions involving soccer …