Relational contracts as a foundation for contractual incompleteness
Contractual incompleteness is generally defined by a trade-off between costs and benefits. We examine this trade-off in a dynamic setting and show how the ability of the parties to sustain a relational contract leads to more incomplete contracts.
Volume (Year): 31 (2011)
Issue (Month): 3 ()
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- Jean Tirole, 2009.
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