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Contentious Contracts

Author

Listed:
  • HEGE, Ulrich
  • VIALA, Pascale

Abstract

This paper offers an explanation of rationally contracts where incompeteness refers to unforeseen contingencies. Agents enter a relationship with two-sided moral hazard in which a commitment to discard parts of the joint resources may be ex ante efficient.

Suggested Citation

  • HEGE, Ulrich & VIALA, Pascale, 1997. "Contentious Contracts," Cahiers de recherche 9711, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:9711
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    File URL: http://hdl.handle.net/1866/2022
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    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law

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