Received: 22 August 2008 Revised: 29 August 2009 Accepted: 3 September 2009 Online publication date: 11 February 2010 Abstract Consumers’ conceptions of a market’s institutional logic affect mechanisms of firm–consumer relationships, but are generally neglected in comparative studies of international marketing. This study bridges institutional and relationship marketing theories to examine two ...

We propose a unified framework to study relational contracting and hold-up problems in infinite horizon stochastic games. We illustrate that with respect to long run decisions, the common formulation of relational contracts as Pareto-optimal public perfect equilibria is in stark contrast to fundamental assumptions of hold-up models. We develop a model in which relational contracts are repeatedl...

The optimal contract and contract parameters are presented when a shipper and a capacitated transport service provider interact repeatedly to renew procurement agreements for one product in a multi period game. Three forms of contracts which enable credible information sharing are analyzed: a priceonly relational contract, a minimum purchase commitment or a quantity flexibility contract. A back...

Abstract In this article, we use a laboratory experiment to study the effects of relational contracts on market efficiency in environments with different degrees contract enforceability and competition. By exogenously varying communication protocol, create that are more personal or impersonal. On one hand, improve by promoting trust coordination. other impersonal increase facilitating severance...

Abstract Relational contract theory holds that the interpretation of a must take full account context and surrounding circumstances parties’ bargain so as to give effect their respective intentions. This paper argues if relational treatment contracts is be institutionalised, in sense being utilised dispute determine intentions, then it operate at an abstract level. That say, rather than using r...

In dynamic business environments the concept of the psychological contract has altered radically. Empirical evidence from a case study conducted in one of Australia’s largest banking organisations is used to illustrate how change can impact upon the psychological contract. Traditional loyalty to an organisation and continuance commitment are becoming less important as organisations pursue more ...

The system of contract enforcement that emerged under the Soviet dictatorship included two official and one informal institutions: administrative enforcement, the system of arbitration courts, and unofficial relational contracting. Official institutions supported transactions that targeted fulfillment of the dictator’s objective. Legal contract enforcement emerged owing to the dictator, who sou...

Industrial marketing researchers have developed sophisticated analyses of interactions among business actors in which their exchanges often feature products and services subject to incremental innovation. Relationships feature strongly in this body of research and it is perhaps surprising that the commercial arrangements, such as contracts and management accounting, have featured to a lesser ex...