We analyze noncontractible investments in a model with shading. A seller can make an investment that affects a buyer’s value. The parties have outside options that depend on asset ownership. When shading is not possible and there is no contract renegotiation, an optimum can be achieved by giving the seller the right to make a take-it-or-leave-it offer. However, with shading, such a contract cre...

With more goods to be transported oversea, traffic and vessels’ dimensions increase while berthing areas merely remain constant thus challenge ship masters pilots maneuver in small basins with dense even bad weather situations. Too fast approaches or steep angles of attack result damages fenders, quay walls, impact the hull structure. We propose a shore-based, vessel-independent assistant syste...