منابع مشابه
Cognition and Incomplete Contracts
Thinking about contingencies, designing covenants and seeing through their implications is costly. Parties to a contract accordingly use heuristics and leave it incomplete. The paper develops a model of limited cognition and examines its consequences for contractual design. JEL numbers: D23, D82, D86, L22.
متن کاملIncomplete Contracts and Control
The work on incomplete contracts cited by the prize committee began in the summer of 1983, but it may be useful to say a bit about how I reached that point. As a graduate student, first at the University of Warwick and then at Princeton University, with a degree in mathematics behind me, I was drawn to general equilibrium theory, and my PhD thesis was on general equilibrium theory with incomple...
متن کاملIncomplete Contracts and Renegotiation
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive o...
متن کاملBounded Rationality and Incomplete Contracts
Thinking about contingencies, designing covenants and seeing through their implications is costly. Parties to a contract accordingly use heuristics and leave it incomplete. The paper develops a model of bounded rationality and examines its consequences for contractual design. It is argued that cognition is a natural source of adverse selection in contractual relationships, that contracts may be...
متن کاملFoundations of Incomplete Contracts
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive o...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2019
ISSN: 1556-5068
DOI: 10.2139/ssrn.3446206