Joint ventures and venture companies present examples of the incomplete contract for economists and the relational contract for legal scholars. Although they have different practical settings, they share the issue of how parties manage the incentive for cooperation. The parties' ultimate goal is...

Long and specific Contracts in the US and short and ambiguous contracts in Japan are a stereotypical comparison of the contracting practices in both countries. Such characteristics of written contracts are understood as sticky. Based on a semi-structured interview of Japanese auto and...