Economic and Legal Aspects of Costly Recontracting
نویسندگان
چکیده
Alan Schwartz and Joel Watson January 2000
منابع مشابه
Economic and Legal Aspects of Costly Recontracting By
This paper explores how the opportunity to recontract affects investment and trade in contractual relationships when it is assumed that renegotiation is costly. In this world, recontracting retains much of the benefit that has been ascribed to it, including the realization of any surplus that is available ex post. Costly recontracting also mitigates the well-known drawback, that parties who exp...
متن کاملYale Law School
This paper explores how the opportunity to recontract affects investment and trade in contractual relationships when it is assumed that renegotiation is costly. In this world, recontracting retains much of the benefit that has been ascribed to it, including the realization of any surplus that is available ex post. Costly recontracting also mitigates the well-known drawback, that parties who exp...
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