in an era of information technology, businesses, through the use of the boundless internet, can enter into international electronic contracts from anywhere in the world. the potential for cross-border disputes in electronic contracts is obviously much greater than in a paper-based environment, where a high degree of commercial contracts are domestic in nature. can the traditional rules on juris...

We show experimentally that fairness concerns may have a decisive impact on the actual and optimal choice of contracts in a moral hazard context. Bonus contracts that offer a voluntary and unenforceable bonus for satisfactory performance provide powerful incentives and are superior to explicit incentive contracts when there are some fair-minded players. But trust contracts that pay a generous w...

Risk theoretic analysis of capitation contracts suggests that capitation contracts are closely aligned to reinsurance contracts between insurance companies. Similarities and differences between these two forms of contractual instruments are reviewed, and several implications are discussed. Viewing capitation contracts as reinsurance contracts has implications that are incompatible with the over...

This paper analyzes optimal contracts in a linear hidden-action model with normally distributed returns possessing two moments that are governed jointly by two agents who have negative exponential utilities. They can observe and verify each others’ effort levels and draft enforceable side-contracts on effort levels and realized returns. Standard constraints, resulting in incentive contracts, fa...

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Blockchain-based distributed computing platforms enable the trusted execution of computation—defined in the form of smart contracts—without trusted agents. Smart contracts are envisioned to have a variety of applications, ranging from financial to IoT asset tracking. Unfortunately, the development of smart contracts has proven to be extremely error prone. In practice, contracts are riddled with...

Purpose – This paper aims to examine contracts in public jurisdictions to compare academic theories related to outsourcing risks and risk management strategies to current practice in order to extend and refine theory concerning what risk management strategies can, or should, be included in outsourcing contracts. Design/methodology/approach – An automated content analysis tool is used to rigorou...

Although the "opioid contract" is widely used in the administration of chronic opioid therapy, its use has not been well defined and there are few guidelines for developing or revising such tools. We reviewed opioid contracts from 39 major academic pain centers and analyzed every statement for its core meaning. These statements were grouped into general categories and then into specific stateme...

The capability to reallocate items|e.g. tasks, securities, bandwidth slices, Mega Watt hours of electricity, and collectibles|is a key feature in automated negotiation. Especially when agents have preferences over combinations of items, this is highly nontrivial. Marginal cost based reallocation leads to an anytime algorithm where every agent's payo increases monotonically over time. Di erent c...

buy-back contracts in the upstream oil and gas projects of iran, has experienced the third generation of this kind of contracts since its inception on 1373 (1994) when the oil and gas industry of iran opend its petroleum market to the foreign investment. these contracts have since been subject to the various critieques raised by international oil companies, foreign investors, or petroleum exper...