Economics, Econometrics and Finance
8 years ago

Incomplete Contracts Empower Stakeholders, Boost Productivity Across Industries

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Journal of Tianjin University of Commerce
Property Rights and Incomplete Contracts
Zong Guo-ying

Paper Summary

The article discusses how incomplete contracts affect property rights and economic outcomes. It suggests that incomplete contracts lead to the production of residual rights. When these rights are combined with residual control and allocated fairly, it creates better incentives for everyone involved.

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