Incomplete contracts and strategic ambiguity

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August undefined, 2024

WebMay 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... 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 …

Incomplete Contracts and Strategic Ambiguity: Evidence From …

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... Web"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 … dutch middle names

Incomplete contracts and strategic ambiguity (Discussion …

WebApr 1, 2009 · This paper suggests that founders often use firm formation to exploit opportunities and must sometimes make organizing decisions about the allocation of control before the economic value of the opportunity can reliably be known even probabilistically. WebWhy are observed contracts so often incomplete in the sense that they leave contracting parties' obligations vague or unspecified? Traditional answers to this question invoke … WebIn this paper, I develop and test an alternative theory of incomplete contracts, the “strategic ambiguity hypothesis,” which posits that optimal formal contracts … imyoshi pineapple

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Incomplete Contracts: An Empirical Approach - Oxford Academic

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. WebAbstract 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 … imyhealth.va.govWebJan 1, 1997 · Incomplete contracts and strategic ambiguity (Discussion paper / Harvard Institute of Economic Research) [Bernheim, B. Douglas] on Amazon.com. *FREE* shipping … imyouryul

"WebSpecifically, once some aspects of performance are unverifiable, it is often optimal to leave other verifiable aspects of performance unspecified. The authors explore the conditions … " - Incomplete contracts and strategic ambiguity

Incomplete contracts and strategic ambiguity

WebIncomplete Contracts and Strategic Ambiguity. B. Douglas Bernheim and Michael Whinston. American Economic Review, 1998, vol. 88, issue 4, 902-32 Abstract: Why are observed … WebOct 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.

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WebJan 1, 2016 · Property rights theory and the empirical literature that tests it in the context of strategic alliances generates two main insights: (1) that asset ownership and control rights specified in... 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

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, because research shows that incomplete contracts can yield higher results than fully specifed ones. p]We investigate these questions using the grounded theory methodology …

WebIncomplete Contracts and Strategic Ambiguity : Evidence From Silicon Valley Sarath Sanga Economics 2024 I present the first empirical test of the strategic ambiguity hypothesis, … WebJul 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 …

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 …

WebSep 9, 2024 · So we started taking seriously that contracts are incomplete, and there is significant literature around that now. But it’s hard to design as-complete-as-possible … imyhome.co.uk reviewsWebMay 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 ... imyo georgetownWebOrganization 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). imyoo healthWebJan 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. imyouthsoccerWebAug 2, 2016 · Date Written: May 22, 2024 Abstract The strategic ambiguity hypothesis posits that when some aspects of performance are observable but not verifiable, the … imyourjoy instagramWebMar 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. imyourptWebNov 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 … imym meaning