To Contract or Not to Contract? A Decision Theory and Portfolio Analysis of Cattle Contract Grazing

Contract Theory and Theories of Contract Regulation

This Essay considers the substantive and institutional aspects of an economic theory of contract regulation. It lists the various functions that analysts have assigned to contract regulation and briefly discusses the substantive wisdom and institutional feasibility of performing those functions. The essay tentatively concludes that the state should enforce contracts, supply vocabularies that ar...

Contract Theory

2 Hidden Information, Screening 4 2.1 The Simple Economics of Adverse Selection . . . . . . . . . . . . . . . . . . 4 2.1.1 First-Best Outcome: Perfect Price Discrimination . . . . . . . . . . . 6 2.1.1.1 Comparison of type-specific contracts with each other . . . . 6 2.1.1.2 In case it’s been too long since you’ve last done a maximization problem . . . . . . . . . . . . . . . . . . . . . . . ....

A Contract Theory Approach to Business Bankruptcy

Notes on Introduction to Contract Theory

This is a readings course. The lectures are designed to distill the central ideas of the readings into models capturing the main insights leaving many of the technical details to be explained in the readings themselves. The hope is that the combination of being exposed to the motivating problems for many of these excursions in contract theory combined with the modeling exercise of distilling th...

Behavioral Contract Theory

P and economics—also known as behavioral economics—is a mindset for doing economics that espouses the importance of thinking about the psychological accuracy of models. After a history of identifying deviations from classical approaches, modeling these deviations formally, and empirically establishing their importance in economic decisions, the field is in the process of full integration into e...