This paper examines a general model of contract in multi-period settings with both external and self-enforcement. In the model, players alternately engage in contract negotiation and take individual actions. A notion of contractual equilibrium, which combines a bargaining solution and individual incentive constraints, is proposed and analyzed. The modeling framework helps identify the relation ...

It is well known that if costlessly enforceable contracts regulate all of the actions of economic actors that a ect the well being of others, competitive equilibria are Pareto e cient regardless of the distribution of wealth. However where actions such as risk taking and hard work are not subject to such contracts, the assignment of residual claimancy over income streams and control over assets...

Current e-service technology paradigms require the analysis and conceptual modeling of cooperative inter-organizational workflows. Cooperation among different organizations is based on contractual agreements that coordinate production activities among cooperating companies and establish mechanisms to control the fulfillment of production goals. Existing conceptual models of workflows do not pro...

the obligation to disclose essential information is important either in theoretical and practical approach. this means that in order to enjoy the necessary knowledge to achieve decision-making and formation of contract, the information that is effective to create legal consent should be revealed to the opposite side. in franchise agreement; violation of this obligation that is one of accessorie...