More is Less : Why Parties May Deliberately Write Incomplete Contracts
Book Details
Format
Paperback / Softback
Book Series
Elements in Law, Economics and Politics
ISBN-10
1009396072
ISBN-13
9781009396073
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
May 23rd, 2024
Print length
34 Pages
Weight
68 grams
Dimensions
22.80 x 15.20 x 0.50 cms
Product Classification:
Economics
Ksh 3,250.00
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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.
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