Economics, Econometrics and Finance
8 years ago

Shift from Complete to Incomplete Contract Theory Revolutionizes Economic Understanding.

Teaching and Research
From Complete Contract Theory to Incomplete Contract Theory
Qijing Yang

Paper Summary

Related papers

Economics, Econometrics and Finance
4 years ago

Less-specified contracts lead to higher effort levels and innovation in business

Economic Analysis
Law and Economics
Private Law
Business, Management and Accounting
8 years ago

Informal contracts best for high-cost transactions in online shopping.

Two-Sided Markets
Coopetition
Economics, Econometrics and Finance
8 years ago

Unlocking Finance: Incomplete Contracts Revolutionize Control and Renegotiation

Economic Analysis

The article discusses how contract theory has evolved from focusing on complete contracts to incomplete contracts. It explains the shift in attention towards understanding the relationships between rational economic agents. The main goal is to introduce the changes in the field, with a particular emphasis on the incomplete contract theory and its development.