The article presents a model that connects theories on contracts and bounded rationality with computational agent-based models. The researchers analyze how buyers and sellers make long-term contracts, considering factors like incomplete agreements, information imbalances, and the need for monitoring. They show that incomplete contracts are common due to the difficulty and cost of including all possible details, and that monitoring becomes crucial in such situations. This model helps understand how people make agreements in real-life situations where perfect information is not available.