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Long-Term Contracts and Short-Term Commitment : Price Determination for Heterogeneous Freight Transactions

Masten, Scott E. - 2010

This paper considers a class of contracts in which parties write detailed, long-term performance obligations that leave one or both parties with broad discretion to terminate the agreement on short notice with little or no penalty. I argue that formal contracts may be valuable, even where trade...

Persistent link: https://www.econbiz.de/10013151164

Understanding Smart Contracts as a New Option in Transaction Cost Economics

Halaburda, Hanna - 2020

(TCE). This institutional economics theory emphasizes the role of distinctive (private and public) contract law regimes in … shaping firm boundaries. We propose that widespread adoption of the smart contract concept creates a new option in public … contracting, which may give rise to a smart-contract-augmented contract law regime. We discuss tradeoffs involved in the …

Persistent link: https://www.econbiz.de/10012845791

Incentives Versus Transaction Costs : A Theory of Procurement Contracts

Tadelis, Steve; Bajari, Patrick L. - 2001

Inspired by facts from the private sector construction industry, we develop a model that explains many stylized facts of procurement contracts. The buyer in our model incurs a cost of providing a comprehensive design, and is faced with a trade-off between providing incentives and reducing ex...

Persistent link: https://www.econbiz.de/10014177424

Incentives Versus Transaction Costs : A Theory of Procurement Contracts

Bajari, Patrick L.; Tadelis, Steve - 2001

Persistent link: https://www.econbiz.de/10014128056

Chapter 1 Contract Law

Hermalin, Benjamin E.; Katz, Avery W.; Craswell, Richard - In: Handbook of law and economics : volume 1, (pp. 3-138). 2007

This chapter surveys major issues arising in the economic analysis of contract law. It begins with an introductory … law of contracts. These divisions include freedom of contract (the extent of private power to create binding obligations …), formation of contracts (the procedural mechanics of exchange, and the rules that govern pre-contractual behavior), contract …

Persistent link: https://www.econbiz.de/10014023515

Strategic Fit and the Role of Contractual and Procedural Governance in Alliances : A Dynamic Perspective

Nielsen, Bo Bernhard - 2008

This paper focuses specifically on interfirm strategic collaboration as a vehicle for knowledge management across firm boundaries. Drawing on the widely accepted exploitation/exploration dichotomy, this article contributes to research concerning alliance dynamics by combining elements related to...

Persistent link: https://www.econbiz.de/10012725263

Long-Term Contracts and Short-Term Commitment : Price Determination for Heterogeneous Freight Transactions

Masten, Scott E. - 2007

of determining prices for a series of heterogeneous transactions. The theory is then used to analyze the structure of …

Persistent link: https://www.econbiz.de/10014224469

Leader networks and transaction costs : a Chinese experiment in interjurisdictional contracting

Chau, Nancy H.; Qin, Yu; Zhang, Weiwen - 2016

Do leader networks promote efficient intergovernmental contracts? We examine a groundbreaking policy in China where subprovincial governments freely traded land conversion quotas, and investigate the role of leader networks on the boundary between jurisdictions that embrace trade versus autarky....

Persistent link: https://www.econbiz.de/10011449783

Blockchain : a coordination mechanism

Pietrewicz, Lesław - In: Proceedings of the ENTRENOVA - ENTerprise REsearch … 5 (2019) 1, pp. 137-143

interest in the coordination aspect of the contract scholarship. The aim of this conceptual paper is to model blockchain as a … can be further used to integrate coordination and contract scholarship. …

Persistent link: https://www.econbiz.de/10012214932

Blockchain: A Coordination Mechanism

Pietrewicz, Lesław - 2019

Persistent link: https://www.econbiz.de/10012141483