In an economic environment, the leapfrogging phenomenon manifests itself in various facets and makes it possible to skip stages of development or product generations. However, an overview of the actors that are involved, how they are connected, and the effects that leapfrogging can have is...

This paper analyzes the occurrence of renegotiation costs in dynamic, binary agency models with a risk‐averse agent. I investigate technological interdependence arising from complementary tasks or substitutable tasks across periods. In addition, I analyze stochastic interdependence between...

Bargainers can increase their outcome by delegation. This paper analyzes delegation contracts consisting of two components: First, a percentage of the outcome if the delegate concludes an agreement. Second, a bonus payment if the delegate fails to do so. This paper derives the effects of these...