Incomplete contracts and strategic ambiguity

Author: xiyn

August undefined, 2024

WebJSTOR Home 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.

Incomplete Contracts and Strategic Ambiguity: Evidence From …

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. 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. small head choldren with big ears condotion

Ambiguity as Strategy in Organizational Communication

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 … 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... http://emaj.pitt.edu/ojs/emaj/article/view/23 song ymca 1 hour

Voluntary ambiguity in incentive contracts Request PDF

Trust and collaboration in the aftermath of conflict: the effects of ...

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 … WebIn this paper, I develop and test an alternative theory of incomplete contracts, the “strategic ambiguity hypothesis,” which posits that optimal formal contracts … song ymca chordsWebJan 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. song you all come back saloon

"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 … " - Incomplete contracts and strategic ambiguity

Incomplete contracts and strategic ambiguity

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. WebNov 1, 2024 · Incomplete Contracts: An Empirical Approach November 2024 Authors: Sarath Sanga Abstract The strategic ambiguity hypothesis posits that when some aspects of …

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

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. WebThe strategic ambiguity hypothesis posits that when some aspects of performance are observable but not verifiable, the optimal contract is deliberately incomplete. I test this …

WebIncomplete Contracts: An Empirical Approach Sarath Sanga Economics The Journal of Law, Economics, and Organization 2024 The strategic ambiguity hypothesis posits that when some aspects of performance are observable but not verifiable, the optimal contract is deliberately incomplete. I test this result for the first… Expand 13 PDF 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 …

WebAmerican Economic Review, 88 (4), 1998, 902-932. Why are observed contracts so often incomplete in the sense that they leave contracting parties' obligations vague or …

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). song yi sustechWebAug 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 … song you alone are godWebNov 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 … song you ain\u0027t worth the whiskeyWebSep 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 … song yichenWebFeb 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 … small head compared to bodyWebApr 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 song you ain\u0027t nothing but a hound dogWeb"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 … song you ain\u0027t goin nowhere