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A Safety Valve Model of Equity as Anti-opportunism

By: Berkeley School of Law) Ayotte Kenneth (University of California (Author) , Ezra (Northwestern University Pritzker School of Law) Friedman (Author) , Massachusetts) Smith Henry E (Harvard Law School (Author)

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Ksh 4,100.00

Format: Paperback or Softback

ISBN-13: 9781009217941

Publisher: Cambridge University Press

Publication Date: Sep 7th, 2023

Category: Public finance

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This Element presents a simple contracting model that captures the role of equity as a safety valve, and shows how it can solve problems posed by opportunists. It also shows that it is often preferable to limit equity, reserving it for use only against those who appear sufficiently likely to be opportunists.

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