Empirical Tests of Contract Theory PDF Download

Author: Meng-Chi Tang
Publisher:
ISBN:
Category : Contracts
Languages : en
Pages : 170

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Author: Thomas Schwinger
Publisher:
ISBN:
Category :
Languages : en
Pages : 32

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Author: Peter Timmerman
Publisher: Springer Science & Business Media
ISBN: 3319042629
Category : Philosophy
Languages : en
Pages : 233

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Book Description
This interdisciplinary work draws on research from psychology and behavioral economics to evaluate the plausibility of moral contract theory. In a compelling manner with implications for moral theory more broadly, the author’s novel approach resolves a number of key contingencies in contractarianism and contractualism. Acting in accordance with principles that we could all agree to under certain conditions requires that agents are capable of taking up the perspectives of others. Research in social and developmental psychology shows just how challenging this can be. The author discusses in detail what implications findings on perspective-taking have for contract theory. He concludes with cautious optimism that, despite our limitations, it lies within our power to become better at perspective-taking and to adopt a contractarian or contractualist mode of moral thinking. This does however require us to be much more attentive to the standpoints of others than we tend to be. Contract theorists also assume that agents can be moved to comply with principles that would be the object of agreement, with some arguing they can be so moved out of their own interest. The book show that, in contrast to the suspicion of many philosophers, this idea is largely supported by research on the dynamics of trust and our ability to distinguish trustworthy from untrustworthy others. Bringing a welcome dose of realism to the debate on contract theory, the author shows the value of assessing moral theories from an empirical perspective.

Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 0792392043
Category : Business & Economics
Languages : en
Pages : 748

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Book Description
Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.

Author: Joseph S. Tracy
Publisher:
ISBN:
Category : Collective bargaining
Languages : en
Pages : 32

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Book Description
Recent developments in the thoery of strategic bargaining demonstrate howinformational asymmetries can lead to prolonged and costly bargaining. These models can be applied to contract negotiations between unions and firms yielding an economic theory of strikes. To date, however, few empirical tests of these models have been carried out. This paper presents some evidence supporting this view of strikes. A set of predictions concerning the incidence and unconditional duration of strikes is derived from a simple bargaining model where the union is uncertain about the firm's future profitability. These predictions are then tested on a micro data set of major U.S. contract negotiations which took place from 1973 to 1977

Author: Peter A. Alces
Publisher: Oxford University Press
ISBN: 0199707596
Category : Law
Languages : en
Pages : 348

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In the past few decades, scholars have offered positive, normative, and most recently, interpretive theories of contract law. These theories have proceeded primarily (indeed, necessarily) from deontological and consequentialist premises. In A Theory of Contract Law: Empirical Insights and Moral Psychology, Professor Peter A. Alces confronts the leading interpretive theories of contract and demonstrates their doctrinal failures. Professor Alces presents the leading canonical cases that inform the extant theories of Contract law in both their historical and transactional contexts and argues that moral psychology provides a better explanation for the contract doctrine than do alternative comprehensive interpretive approaches.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 282

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Author: Sergio Mittlaender
Publisher: Springer Nature
ISBN: 3031108043
Category : Law
Languages : en
Pages : 241

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Book Description
This book analyzes the conflict that emerges between parties after a breach of contract and how different legal remedies can best reduce conflict. Causes for conflict include equity, efficiency, and ethical reasons that parties might consider and use to blame the other or to justify breach. In the end, if not resolved through apologies or renegotiation, conflict leads to aggrievement and behavioral reactions in form of retaliation by the victim against the promisor in breach. The book provides empirical evidence from laboratory experiments for how individuals react to perceived wrongful acts such as breach of contract and for the function of legal remedies to reduce retaliation by disappointed promisees in providing them compensation. It reveals how the inequality in the outcome, and not the inefficiency of breach of contract, causes aggrievement and retaliation by victims. The book concludes with a comparative law and economic analysis of remedies for breach of contract adopted in different leading jurisdictions, with important normative implications for the American insistence on expectation damages, the French expansion of specific performance with "astreinte", the German junction of specific performance, expectation damages, and disgorgement damages, and the British timid acceptance of partial disgorgement damages. The book will appeal to scholars, researchers, and students of economics and law, interested in a better understanding of remedies for breach of contract.

Author: Philippe Aghion
Publisher: Oxford University Press
ISBN: 0190259019
Category : Business & Economics
Languages : en
Pages : 224

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Book Description
The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.

Author: Eric Brousseau
Publisher: Cambridge University Press
ISBN: 9780521893138
Category : Business & Economics
Languages : en
Pages : 604

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Book Description
A 2002 survey of economics of contracts appealing to scholars in economics, management and law.