On platforms, incomplete contracts, and open source software
نویسندگان
چکیده
منابع مشابه
On platforms , incomplete contracts , and open source software ☆
Available online 16 July 2013
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Throughout the course, we have assumed that all contracts are complete. This is, of course, complete nonsense in reality but a useful starting point in theory. But why is it complete nonsense in reality? What are we missing? Many stories have been suggested. One possibility is that we can, indeed, think of all possible contingencies, but it is costly to write all of these down in a contracts (L...
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Thinking about contingencies, designing covenants and seeing through their implications is costly. Parties to a contract accordingly use heuristics and leave it incomplete. The paper develops a model of limited cognition and examines its consequences for contractual design. JEL numbers: D23, D82, D86, L22.
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ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 2013
ISSN: 0167-7187
DOI: 10.1016/j.ijindorg.2013.07.003