We investigate the role of forward commitments and option contracts between a seller (supplier) and a buyer (retailer) in the presence of asymmetric information. In our case, both parties face price and demand uncertainty, but the retailer, being closer to the market, has additional information about the true demand. The supplier, aware of this asymmetry, and acting as a Stackelberg leader, des...

Du, Julan, Lu, Yi, and Tao, Zhigang—Contracting institutions and vertical integration: Evidence from China’s manufacturing firms The existing studies on vertical integration focus on factors at the transaction parties’ level, such as asset specificity and contractual incompleteness. What is overlooked is the quality of the underlying institutions, in particular, contracting institutions. In thi...

Theory predicts that default breach remedies are immaterial whenever contracting costs are negligible. Some experimental studies, however, suggest that in practice default rules do matter, as they may a¤ect parties' preferences over contract terms. This paper presents results from an experiment designed to address the importance of default breach remedies for actual contract outcomes. We …nd th...

Recent scholarship in the field of contract law has concentrated on contractual incompleteness—that is, on the fact that except in the simplest and most basic transactions, contracting parties do not work out all of the relevant details and contingencies of their relationship at the outset. The reasons for incomplete contracts are varied. Sometimes parties deliberately leave terms unresolved, t...

Background In the attempt to move towards universal health coverage (UHC), many low- and middle-income countries (LMICs) are actively seeking to contract-out non-state providers (NSPs) to deliver health services to a specified population. Research on contracting-out has focused more on the impact of contracting-out than on the actual processes underlying the intervention and contextual factors ...

article 1 of the european convention on human rights provides that the contracting parties shall secure to everyone ‘within their jurisdiction’ the rights and freedoms defined in the convention. at a technical level, the key question is how one should interpret the word ‘jurisdiction’ in article 1. this article plays a key role in the convention system since it sets out the limits on the obliga...

Treaties (conventions), international custom and the general principles of law generally constitute formal sources law. The present linguistics-oriented study exploring juridical basis specifically focuses on analyzing that treaties. An empirical linguistic expressions forms treaties is supposed to probe into what contracting parties really think when adopting treaty texts. It applies move stru...