Incomplete contracts and strategic ambiguity

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August undefined, 2024

http://www.econ.ucla.edu/sboard/teaching/contracts_07/contracts_07_syllabus.pdf WebMar 12, 2024 · While fixed-price contracts are commonly invoked in the literature under the assumption that parties to a relational contract use efficiency wages or repeat purchase mechanisms (Klein and Leffler 1981; Shapiro and Stiglitz 1984; Brown et al. 2004), they are not consistent with the theory of strategic ambiguity.

Strategic decision-making under ambiguity: a new problem space …

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EconPapers: Incomplete Contracts and Strategic Ambiguity

WebMay 15, 2024 · In addition, there are a variety of types of ambiguity affecting the efficiency in the industry: ambiguity due to numerous variations in the bill of quantities, incomplete clauses and those that ... WebDec 19, 2015 · Incomplete contracts and strategic ambiguity. American Economic Review, 88(4), 902–932. Google Scholar Bertelsen, S. et al. (2003). Avoiding and managing chaos in projects. In 11th Annual Conference in the International Group for Lean Construction (pp. 1–14). Google Scholar Biggiero, L. (2001). Sources of complexity in human systems. WebNov 1, 2024 · The strategic ambiguity hypothesis posits that when some aspects of performance are observable but not verifiable, the optimal contract is deliberately … simplilearn.com sign in

Antecedents of Intentionally Incomplete Inter-Firm Contracts

Incomplete Contracts and Strategic Ambiguity. - CORE

WebLeveraging a longitudinal dataset concerning 102 inter-firm disputes, we evaluate the effects of contract structure on trust and on the likelihood of continued collaboration. We theoretically refine and empirically extend prior research by (a) distinguishing between control and coordination functions of contracts, (b) separating goodwill-based and … WebAug 2, 2016 · Abstract. The strategic ambiguity hypothesis posits that when some aspects of performance are observable but not verifiable, the optimal contract is deliberately … simplilearn cryptography free courseWebJan 1, 2014 · In particular, the ability of the client and the vendor to anticipate and specify contingencies in the outsourcing relationship through more complete contracts is limited, given the responsiveness of strategic business processes to changing business needs, necessitating greater strategic ambiguity and incomplete contracts (Bernheim and … simplilearn cryptography

"WebIncomplete Contracts: An Empirical Approach. Sarath Sanga. Economics. The Journal of Law, Economics, and Organization. 2024. The strategic ambiguity hypothesis posits that … " - Incomplete contracts and strategic ambiguity

Incomplete contracts and strategic ambiguity

Incomplete contracts versus communication - ScienceDirect

http://www.law.harvard.edu/programs/corp_gov/papers/2009spring-Speakers_04-21_Triantis.pdf WebJan 1, 2009 · incomplete contracts might be chosen b y agents who face strategic ambiguity. Spier (1992) has. ... Mukerji and T alon (2001) discussed incomplete contracts in the presence of the decision-theoretic.

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WebI conclude that firms use strategic ambiguity to circumvent legal constraints. AB - The strategic ambiguity hypothesis posits that when some aspects of performance are … WebTransaction costs explain why contracts are incomplete and fail to specify fully the optimal obligations in each possible future state of the world. One cause of incompleteness is the cost of litigating and enforcing contracts. Contract theorists focus ... Strategic Vagueness in Contract Design Version: April 3, 2009 ...

WebJan 1, 1997 · Incomplete contracts and strategic ambiguity (Discussion paper / Harvard Institute of Economic Research) [Bernheim, B. Douglas] on Amazon.com. *FREE* shipping … WebABSTRACT. We suggest that the analysis of incomplete contracting developed by law and economics researchers can provide a useful framework for understanding the AI …

Weblegally unenforceable agreements are performed. Theories of incomplete contracts invoke transaction costs and bounded rationality to explain why formal contracts are incomplete. … WebSep 9, 2024 · So we started taking seriously that contracts are incomplete, and there is significant literature around that now. But it’s hard to design as-complete-as-possible …

Web"Incomplete Contracts and Strategic Ambiguity," American Economic Review, American Economic Association, vol. 88(4), pages 902-932, September. B. Douglas Bernheim & Michael D. Whinston, 1997. " Incomplete Contracts and Strategic Ambiguity ," Harvard Institute of Economic Research Working Papers 1787, Harvard - Institute of Economic … simplilearn customer serviceWebJan 1, 2016 · Incomplete Contracts and Strategic Alliances. ... (1998). I ncomplete contracts and strategic ambiguity. American Economic Review, 902-932. Bolton, Patrick, and Mathias Dewatripont. (2005). simplilearn csm certificationWebOct 1, 2024 · A simple example. This section presents the simplest version of our contracting game. It illustrates some of the key features of the interplay between incomplete contracting and communication: there is an equilibrium in which the principal offers a contract that leaves gaps for, structures, and improves communication. simplilearn cspoWebNov 2, 2024 · Ambiguity is a recognized, and often explicitly described, factor that makes strategic decisions even more challenging. It appears as one main reason that … simplilearn crunchbaseWebApr 12, 2024 · Bernheim & Whinston (1998) Bernheim, B. Douglas and Whinston, Michael D. Incomplete contracts and strategic ambiguity. The American Economic Review, … simplilearn customer supportWebNoldeke and Schmidt (1995), \Option Contracts and Renegotiation: A Solution to the Hold-up Problem," RAND Journal of Economics. Che and Sakovics (2004), \A Dynamic Theory of … raynedrops payWebSep 9, 2016 · We investigate (1) whether frms deliberately write incomplete contracts, and (2) if so, under which conditions. a better understanding of this phenomenon is important, because research shows that incomplete contracts can yield higher results than fully specifed ones. p]We investigate these questions using the grounded theory methodology … simplilearn customer support forums