illustrated by means of two games: a public goods game in which each player simultaneously offers a menu contract to a common …

. After introducing these games, the article takes a functional approach to the law of contract formation as determining when …

Gaming is an important problem when firms use a nonlinear incentive contract. Previous empirical researches show that … is higher when the employee is more productive. Moreover, we compare a liner contract and a quota-based contract and show … that even when an employee can game the incentive system,a quota-based contract is more profitable than a linear contract …

effect of renegotiation costs on initial contract terms. TD9599 materially reduced the tax burden of renegotiating U … setting, we examine the implications of incomplete contracting theory for debt contract design. Consistent with incomplete … contracting theory, we find that, as renegotiation costs fall, the maturity of debt contracts lengthens, the likelihood of …

contingent claims in a complete asset market. The manager is given a contract so that at equilibrium she chooses the plan … preferred by shareholders. We show that the contract should restrict the manager from trading. Moreover, the marginal utility of …

, one of the modern frameworks of delivery of complex projects. Alliancing is applied to encourage the parties to a contract … - particularly contracts - tends to be of a competitive nature. As a result, if a serious conflict arises, and the contract starts …

" message. Our monotonicity theorem establishes that the set of implementable state-contingent payoffs increases with the costs …