sector has produced menus of contract terms, such as standard form contracts and model documents, long before the idea of … statutory menus became fashionable. There is no evidence that the market for private menus has failed, and legislatures are … unlikely to be efficient menu producers. Advocates of statutory menus have suggested a number of rationales, most notably …

In this note we argue that in Common Agency games, the restriction to deterministic menus is crutial.We give an simple … example (complete information, no moral hazard) in which an equilibrium is not robust to the introduction of stochastic menus. …