This paper studies the design of optimal contracts in dynamic environments where agents have private information that is persistent. In particular, I focus on a continuous time version of a benchmark insurance problem where a risk averse agent would like to borrow from a risk neutral lender to stabilize his income stream. The income stream is private information to the borrower and is persisten...

bailsman is commitment to summon party .this commitment on suspect of some, cause dominate on the third-party .for this reason, some have questioned the validity of contract, other groups have attempted to justify the validity of the contract with using of joint and several liability and advocacy. in sunni jurisprudence, the first tool used and in shiie, the second tool. but the truth is that t...

contrary to iranian and german law which do not agree on legal status of contracts obtained by corruption, in common law system such contract is typically deemed against public policy and void. but icsid convention, in spite of relying on public policy, considers these contracts voidable.

Contracts for the procurement of government goods/services are realm private law that implements pure contracts. A legal relationship in a contract, especially contract settlement, is between settlement rights and obligations parties. This study describes goods/service contracts require basis both principle theory. By using conceptual analysis method, findings indicate an inconsistency solving ...

H igh price volatility and the risk are the main features of commodity markets. One way to reduce this risk is to apply the hedging policy by future contracts. In this regard, in this paper, we will calculate the optimal hedging ratios for OPEC oil. In this study, besides the multivariate GARCH models, for the first time we use conditional copula models for modelling dependence struc...

aleatory contract has not been codified in iran's regulations.whereas egypt's regulations not only generally compromise aleatory contract but also give prominent examples for it. in aleatory contracts considerations are not determined, because, here, determination of a consideration is based on some factors which will be fulfilled in the future. the effect of this contract shall be es...

A management framework has been successfully utilized at Imperial College London in the United Kingdom to improve the process for developing and managing university-industry research collaborations. The framework has been part of a systematic approach to increase the level of research contracts from industrial sources, to strengthen the university’s academic base, and to diversify the provision...