nature of investment, writing a simple fixed-price contract can be valuable under repeated transactions: There is a range of … parameter values in which a higher investment can be implemented only if a formal price contract is written and combined with a … relational contract. We also show that there are cases in which not writing a formal contract but entirely relying on a …

about their bargaining power ex ante, both of them may endogenously choose incomplete contract over complete contract even … explanation for the prevalence of contract incompleteness besides the existing ones in the literature …