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The property rights approach to the theory of the firm is the most prominent application of the incomplete contracting …
Persistent link: https://www.econbiz.de/10012864429
Most major jurisdictions require websites to provide customers with privacy policies. A privacy policy’s most important function is to provide consumers with a description of the online service provider’s current privacy practices. We argue that these policies also serve a second,...
Persistent link: https://www.econbiz.de/10014254657
We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long … renegotiated outcome sticky and materially inefficient. The theory has important implications for the optimal design of long …
Persistent link: https://www.econbiz.de/10009658107
, a good of too high quality or too low quality is traded ex post. Based on the buyer's expectation management, our theory …
Persistent link: https://www.econbiz.de/10010341925
, a good of too high quality or too low quality is traded ex post. Based on the buyer's expectation management, our theory …
Persistent link: https://www.econbiz.de/10010256140
We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long … renegotiated outcome sticky and materially inefficient. The theory has important implications for the optimal design of long …
Persistent link: https://www.econbiz.de/10009656186
I propose a theory of debt maturity as an incentive device to motivate innovation when contracts are fundamentally … partially insures the entrepreneur against failure and thus motivates innovation. The theory has novel empirical implications …
Persistent link: https://www.econbiz.de/10012418053
Persistent link: https://www.econbiz.de/10015070803
We provide experimental evidence for the hypothesis that bounded rationality is an important element of the theory of …
Persistent link: https://www.econbiz.de/10010481408
We provide experimental evidence for the hypothesis that bounded rationality is an important element of the theory of …
Persistent link: https://www.econbiz.de/10011473824