More is Less: Why Parties May Deliberately Write Incomplete Contracts
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https://www.nber.org/papers/w19001
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Why are contracts incomplete? Transaction costs and bounded rationality cannot be a total explanation since states of the world are often describable, foreseeable, and yet are not mentioned in a contract. Asymmetric information theories also have limitations. We offer an explanation based on
提供机构：
美国国家经济研究局
创建时间：
2013-04-01
