منابع مشابه
Renegotiation of Supply Contracts ¤
After entering into supply contracts, ...rms often later renegotiate the terms of those contracts. For example, ...rms that obtain market demand information after signing supply contracts may bene...t by renegotiating the contracts to allow buyers facing poor market conditions to purchase less than their contractual commitment and allowing buyers facing favorable conditions to purchase more. Co...
متن کاملIncomplete Contracts and Renegotiation
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متن کاملRenegotiation of Dynamically Incomplete Contracts
I provide a micro-foundation for dynamically incomplete contracts that are renegotiated over time. The micro-foundation is based on showing that such contracts implement the optimal complete contract in a general dynamic model provided the players have “preference-for-robustness.” Preference-for-robustness is a way of modeling players perpetually having a fuzzy idea as time passes about events ...
متن کاملRenegotiation of Defense Procurement Contracts
Ex ante contract terms are not always enforced ex post. Through the analysis of enforcement conditions of outsourcing contracts in the French defense procurement sector, I identify the determinants of renegotiations. I demonstrate that analyzing formal arrangements is not enough to account for renegotiations. Informal decision-making plays a major role in that perspective. Determinants of reneg...
متن کاملContracts , Information Persistence , and Renegotiation ∗
This paper studies how renegotiation and information persistence shape long-term contracts in principal-agent relationships. Truthful contracts that are renegotiation-proof, according to a concept tailored to account for persistence in the agent’s type, are characterized by their sensitivity to the reports of the agent. The sensitivity of the optimal renegotiation-proof contract is increasing i...
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ژورنال
عنوان ژورنال: Econometrica
سال: 1995
ISSN: 0012-9682
DOI: 10.2307/2171908