More is less : why parties may deliberately write incomplete contracts / Maija Halonen-Akatwijuka, Oliver Hart.
Why are contracts incomplete? Transaction costs and bounded rationality cannot be a total explanation since states of the world are often describable, foreseeable, and yet are not mentioned in a contract. Asymmetric information theories also have limitations. We offer an explanation based on 'c...
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| Main Authors: | , |
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| Format: | eBook |
| Language: | English |
| Published: |
Cambridge :
Cambridge University Press,
2024.
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| Series: | Cambridge elements. Elements in law, economics and politics
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| Subjects: | |
| Online Access: | https://doi.org/10.1017/9781009396059 |
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