A theory of general economic equilibrium with incomplete financial markets is developed with many new features, including currency-denominated prices which enable treatment of currency-based derivative instruments and collateralized contracts. Prices in such models with standard market structure have previously been articulated only in “units of account” which have no link to an actual currency...

Contracts are an important dimension of modern agriculture because they facilitate vertical coordination between producers and downstream processors and handlers. Because contracts are normally not settled in an open-market environment, establishing price(s) for contract sales is a pressing issue. When contract production is marketed contemporaneously with production sold through a spot market,...

Strategic retailers choose assortments taking consumer preferences, downstream competition, and vertical contracts into account. Thus, vertical contracts cannot be understood in isolation from retailers’ endogenous product selections. Producers frequently provide retailers with financial incentives to gain distribution of their products. These payments often take the form of vendor allowances: ...

We analyze a firm designing and selling a seasonal product with demand uncertainty and a single ordering opportunity. Prior to the start of the selling season, product quality and inventory must be jointly determined; a higher quality product results in a greater selling price but also greater marginal production cost. We consider both a centralized supply chain, in which a single firm determin...

Nowadays, belief in the criteria and conditions of interactions with an organization to promote customer relationships is somehow tied to the organizational performance, and its final goal is of great importance. In the literature on organizational behavior, this belief is defined as the “psychological contract”. The intention of this mixed research is to identify and discover the contents of p...

Abstract The focus of this paper is on the uncertainty and controversy associated with substantial compliance standard as part strict principle in letter credit law, well possibility applying new technology to solve such problems. confirms a payment under international sales contracts contains promise from bank pay seller if they can present complying documents required credit. Thanks basic pri...

There are differences in risk allocation agreements under the civil law and common systems. However, similar case on overseas sales international business remain apparent. Therefore, INCOTERMS has a significant impact this regard. In addition, effect is sometimes seen determining ownership rights as well. The question here how can same result from viewpoint of passing property be obtained for a...