A group of risk-averse agents repeatedly produce a perishable consumption good; individual outputs are observable but efforts are not. The contracting problem admits a recursive formulation, and the optimal value function is the fixed point of a contraction mapping. When the agents can be punished to the full extent in a single period, every continuation contract of an optimal contract is itsel...

Business-to-business e-contracting aims at automating the contracting process between companies. It improves the efficiency of the contracting process and enables the introduction of new business models that can be supported by companies. For the development of an e-contracting system, an architecture is required that describes the system components and the communication channels between them. ...

In business-to-business relations, contracts serve both as a protection mechanism of trading parties, as well as a prescription document for activities to be executed by them. The processes of contract establishment and its enactment are often expensive and time-consuming. E-contracting aims at improving the efficiency and effectiveness of the contracting process. Additionally, it offers new op...