contract terms in facilitating self‐enforcing relationships. Because of the large uncertainty in film value at the time of … distributors to flexibly adjust contract terms ex post. The analysis illustrates that, rather than thinking of contracts as either … court enforced or self‐enforced, transactors generally combine court‐enforced and self‐enforced sanctions by using contract …

Court enforcement and private enforcement are not alternative contract enforcement mechanisms, but are used jointly by … transactors to define the self-enforcing range of a contractual relationship. Within this framework contract terms economize on …