, a good of too high quality or too low quality is traded ex post. Based on the buyer's expectation management, our theory …

(2008)'s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships … suggest refinements of the theory. In particular, we find that the availability of informal agreements and ex post …

We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long … renegotiated outcome sticky and materially inefficient. The theory has important implications for the optimal design of long …

We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long … renegotiated outcome sticky and materially inefficient. The theory has important implications for the optimal design of long …

We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long … renegotiated outcome sticky and materially inefficient. The theory has important implications for the optimal design of long … ; incomplete contracts ; reference points ; employment contracts ; behavioral contract theory …

, a good of too high quality or too low quality is traded ex post. Based on the buyer's expectation management, our theory …

(2008)'s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships … suggest refinements of the theory. In particular, we find that the availability of informal agreements and ex post …