The increasing demand for aviation complex products makes complex product manufacturers pay more attention to delivery efficiency, and the efficiency and effect of delivery problems are the key factors that restrict the delivery efficiency. This study aims to design a long-term effective...

Contractual renegotiation is an emerging and significant theme in the context of Public-Private Partnerships (PPPs) due to its high incidence and potential impact on the sustainability of partnership models. This study presents a systematic review using a qualitative meta-synthesis method to...

This paper was written as an editorial preface to a "Symposium on Relational Contracts", that was jointly edited by the three authors, and that will appear in the Journal of Institutional and Theoretical Economics (JITE). The Symposium contains eleven contributions to the economics of relational...

This paper explores why competing firms can choose to outsource to an external common supplier that does not have a cost advantage in input production. The supplier, through its contract offers, manages to generate asymmetry, to alter product market competition, and to extract profits from the...

This paper aims to characterise a dynamic, incentive-compatible contract for the provision of health services, allowing for both moral hazard and adverse selection. Patients' severity changes over time following a stochastic process and is private information of the provider. We characterise the...

We investigate the competitive effects of spot-price contracting, in which a buyer and seller contract to transact at a future date at the price prevailing in that market at that future date (the ``spot price''); such contracts are ubiquitous in the beef-processing industry, among others. We...

Contract law is stuck in a loop of path dependency and stale precedent. Its metaphors, like “the meeting of the minds,” are today laughably implausible. Its values, like “consent,” have been stripped of any real meaning. No one reads or understands the overwhelming majority of contracts...

It is well established that an agent’s act binds the principal only if the agent has actual or apparent authority, or if the principal ratifies the unauthorized act. But confusion persists as to the legal status of the unauthorized agreement between the agent (purporting to act for the...

In this study, we analyze the challenges faced by manufacturers in promoting sustainability throughout their supply chains when the supplier is capital-constrained, has private access to production cost information, and must choose between regular and sustainable production. We develop a dyadic...

This Article makes two original contributions to the contract interpretation and renegotiation literatures. First, we introduce an under-explored cause of renegotiation failure: party uncertainty regarding the type of court that will interpret their contract. Parties may predict differently how...