Incomplete contracts and strategic ambiguity
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). WebIncomplete Contracts and Strategic Ambiguity : Evidence From Silicon Valley Sarath Sanga Economics 2024 I present the first empirical test of the strategic ambiguity hypothesis, …
Incomplete contracts and strategic ambiguity
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WebMar 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, … 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.
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 … 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 ...
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. WebStrategic 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...
WebIncomplete contracts can create scenarios that lead to inefficient investments and market failures, but incompleteness is essentially a feasibility constraint. The 'strategic ambiguity …
WebJan 1, 2024 · An incomplete contract is an agreement that does not specify actions and payments for all possible contingencies. All but the simplest contracts are incomplete, containing ‘gaps’ that must be filled by negotiation, convention, or formal dispute resolution procedures such as courts and arbitration. shy hands memeWebJul 5, 2012 · Why are observed contracts so often incomplete in the sense that they leave contracting parties' obligations vague or unspecified? Traditional answers to this question … shy harry potter fanfictionWebAbstract We consider a principal's choice between either controlling an agent's action through an incomplete contract or guiding him through non-binding communication. The principal anticipates receiving private information and must hire an agent to … shy hand signWebNoldeke and Schmidt (1995), \Option Contracts and Renegotiation: A Solution to the Hold-up Problem," RAND Journal of Economics. Che and Sakovics (2004), \A Dynamic Theory of … shy hand raiseWebNov 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 … shy hands emoji blackWebApr 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 shy headWebSpecifically, once some aspects of performance are unverifiable, it is often optimal to leave other verifiable aspects of performance unspecified. The authors explore the conditions … the pavilion shiremoor