Incomplete contracts and strategic ambiguity

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WebJan 1, 2009 · incomplete contracts might be chosen b y agents who face strategic ambiguity. Spier (1992) has. ... Mukerji and T alon (2001) discussed incomplete contracts in the presence of the decision-theoretic. http://emaj.pitt.edu/ojs/emaj/article/view/23

Incomplete Contracts and Strategic Ambiguity - Semantic …

WebNov 1, 2013 · The choice between ambiguity and commitment involves a trade-off between the potential windfall for the agent (higher with commitment) and the risk of undeserved punishment (higher with... WebWe first provide an overview of the incomplete contracting literature and explore parallels between this work and the problem of AI alignment. As we emphasize, misalignment … how does usain bolt make money

Incomplete Contracts and Strategic Ambiguity - Research Papers …

WebMar 12, 2024 · While fixed-price contracts are commonly invoked in the literature under the assumption that parties to a relational contract use efficiency wages or repeat purchase mechanisms (Klein and Leffler 1981; Shapiro and Stiglitz 1984; Brown et al. 2004), they are not consistent with the theory of strategic ambiguity. WebWe theoretically refine and empirically extend prior research by (a) distinguishing between control and coordination functions of contracts, (b) separating goodwill-based and competence-based trust, and (c) evaluating the effects of contract structure on relational outcomes in the context of disputes. WebMay 1, 2012 · In section 2 we present a formal model of contracting in the presence of linguistic ambiguity. Following Grant et al. (2012a), we adopt a convenient subclass of Gul and Pesendorfer's (2013 ... photographers in breckenridge co

Strategic ambiguity in policy formulation: exploring the function of ...

Incomplete Contracts and Strategic Ambiguity B. Douglas …

WebDec 19, 2015 · Project ambiguity is a project characteristic which encompasses two phenomena: The lack of awareness of elements, events and their characteristics (due to the overall lack of understandability of the project system), particularly when evaluating them. WebApr 12, 2024 · strategic ambiguity:the parties choose not to include all known and contractible contingencies in order to control strategic behavior in response to other … how does using an atm help you and the bankWeb"Incomplete Contracts and Strategic Ambiguity," American Economic Review, American Economic Association, vol. 88(4), pages 902-932, September. B. Douglas Bernheim & Michael D. Whinston, 1997. " Incomplete Contracts and Strategic Ambiguity ," Harvard Institute of Economic Research Working Papers 1787, Harvard - Institute of Economic … photographers in cedar falls iowa

"Webscholars, students and policy makers alike. 22 articles, dating from 1975 to 2003 Incomplete Contracts and Strategic Ambiguity - Jun 05 2024 Coalition-proof Nash Equilibria - Mar 02 2024 Economic Analysis for Business Decisions (from Bernheim & Whinston's Microeconomics) - ... complex area of exclusionary vertical contracts is perhaps the most ... " - Incomplete contracts and strategic ambiguity

Incomplete contracts and strategic ambiguity

Explaining and Predicting the Choice of Organizational Form ...

WebNov 2, 2024 · Ambiguity is a recognized, and often explicitly described, factor that makes strategic decisions even more challenging. It appears as one main reason that … WebOrganization theory suggests that various forms of performance ambiguity have governance implications for the strategic choice of control mechanism in organizational forms (e.g., Eisenhardt, 1985; Ouchi, 1979). Transaction costs theory emphasizes asset specificity as an important predictor of organizational form (e.g., Williamson, 1996).

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WebJSTOR Home WebMar 17, 2010 · A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach. Jongwook Kim and Joseph T. Mahoney View all authors and ... Incomplete contracts and strategic ambiguity. American Economic Review, 88: 902-932. Google Scholar. Besen, S.M., & Raskind, L.J. 1991. An introduction to the law and …

WebSep 9, 2016 · We investigate (1) whether frms deliberately write incomplete contracts, and (2) if so, under which conditions. a better understanding of this phenomenon is important, … WebApr 12, 2024 · We suggest that the analysis of incomplete contracting developed by law and economics researchers can provide a useful framework for understanding the AI alignment problem and help to generate a systematic approach to finding solutions. We first provide an overview of the incomplete contracting

WebJan 1, 2014 · The key ex post contractual inefficiencies in strategic outsourcing initiatives stem from assumptions of opportunistic behavior and cost overruns in task execution that may be attributable to the complexity and dynamism of the outsourced task. WebMar 17, 2010 · A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach Show all authors. Jongwook Kim. Jongwook Kim. ... Incomplete contracts and strategic ambiguity. American Economic Review, 88: 902-932. Google Scholar ISI. Besen, S.M. , & Raskind, L.J. 1991.

WebMar 28, 2024 · We introduce ambiguous states into an experimental investigation of a tradeoff between contractual rigidity and flexibility. Ambiguity magnifies both parties’ …

WebFeb 3, 2012 · Luo Y., (2002) Contract, coorperation, and performance in International Joint Ventures.Strategic Management Journal, 23, pp.903-919. Mellewigt, T., A. Madhok and A.Weibel (2007) Trust and Formal Contracts in Interorganizational Relationships – Substitutes and Complements. Managerial and Decision Economics 28: 833-847. how does userlytics payWebMay 15, 2024 · Findings The findings indicate that (1) ambiguity due to excessive changes in the bill of quantity (BOQ) (including ambiguous provisions related to BOQ changes), (2) incomplete clauses that do... photographers in brainerd mnWebOct 1, 2024 · A simple example. This section presents the simplest version of our contracting game. It illustrates some of the key features of the interplay between incomplete contracting and communication: there is an equilibrium in which the principal offers a contract that leaves gaps for, structures, and improves communication. how does usecallback workWebThe strategic ambiguity hypothesis posits that when some aspects of performance are observable but not verifiable, the optimal contract is deliberately incomplete. I test this … how does usda crop insurance workWebStrategic ambiguity in policy formulation: exploring the function of the term “township and village enterprises” in china’s industrial ownership reforms DOI: Authors: Shuanping Dai Jilin... photographers in brentwood caWebMar 27, 2024 · To do so, we adapted the nine kinds of uncertainty in environmental governance proposed by Dewulf and Biesbroek to the more general context of negotiations. We first differentiate between three natures of uncertainty (i.e., lack of knowledge, unpredictability, and interpretations) and three objects of uncertainty (i.e., issue-based, … photographers in concord ncWebNov 1, 2024 · In this article, I develop and test an alternative theory of incomplete contracts, the “strategic ambiguity hypothesis,” which posits that an optimal formal contract may be … photographers in chester le street