Production contracts have gained significant popularity as a mechanism of vertical coordication in several agricultural industries. However, the compensation received from such contracts does not always satisfy the grower’s optimal compensation strategy. Furthermore, these contracts are non-adjustable over the contract term although a grower’s risk position often does change. This analysis illu...

We conduct a detailed, micro-level analysis of 126 strategic alliance contracts, all of which were written to sponsor early-stage, genomics-based biotechnology research at small R&D companies. All contracts prescribe staged investment decisions to capture the option value associated with the sequential resolution of uncertainty, but the contracts deal with agency problems differently. Among pre...

The third-party interest contract is not a typed contract, which breaks through the principle of relativity and enables third party to obtain benefits from it, major breakthrough in legislation Civil Code People's Republic China. However, practice, there are unclear subjects right rescind, rules for exercising legal effects. In this regard, it should be made clear that subject statutory resciss...

Code contracts is a way to attribute the programs with formal the specifications, based on which the verification of those programs can be performed. The focus on software verification is increasing and the mainstream languages start to adopt this technique. Scala is an object oriented and functional programming language that is very expressive and has a strong type system. Hence, developing a ...

Relational contracts—informal agreements sustained by reputational concerns—are prevalent both within and between firms. This paper develops repeated-game models of relational contracts that show how and why relational contracts within firms (vertical integration) differ from those between (non-integration). We show that integration affects the parties’ temptations to renege on relational contr...