Herweg, Fabian; Schmidt, Klaus M. - 2014 - This version: December 9, 2013
-term contract that has to be renegoti- ated after the realization of the state of the world, they take the initial contract as a …-term contracts. First, it explains why parties often abstain from writing a beneficial long-term contract or why some contracts … allocation of ownership rights to protect relationship-specific investments rather than writing a specific performance contract …