Foundations of Incomplete Contracts

Hart, O., & Moore, J. (1999). Foundations of Incomplete Contracts. The Review of Economic Studies, 66(1), 115-138.

Type

Journal article

Intellectual base

Review or monograph

Year

1999

Volume

66

Issue

1

Pages

115-138

ISSN

1467-937X

DOI

10.1111/1467-937x.00080

DOI registrant

Oxford University Press

Link

https://doi.org/10.1111/1467-937X.00080

Cited by

1 citation across 1 artifact.

Each citation links to the sentence it supports in the citing article.

Mechanisms

• Bilateral Service-Level Guarantee
  • Its failure mode is the failure mode of every contract that cannot foresee everything: an incomplete contract rewards what is measured and starves what is not.

    This sourceModels contracts as incomplete when relevant future actions and contingencies cannot all be specified in advance.

Verification

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Does it back the claim? Not recorded. The single citation of this work carries no recorded support check.

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