More is less: why parties may deliberately write incomplete contracts
Auteur :
Halonen-Akatwijuka, Maija / Hart, Oliver
Éditeur :
Cambridge University Press
ISBN :
9781009396073
Date de publication :
23 mai 2024
Dimensions :
22,8 x 15,1 x 0,3 cm
Poids :
70 g
Format :
Trade paperback (US)
Langue :
Anglais
Pays d'origine :
Grande Bretagne
Why are contracts incomplete? Asymmetric information theories also have limitations. This Element offers an explanation based on contracts as 'reference points' showing if parties have different views about the division of surplus, an incomplete contract can be superior if including a contingency would lead to divergent reference points.