Indescribability and its irrelevance for contractual incompleteness

Indescribability and its irrelevance for contractual incompleteness

The incomplete contracts literature often cites indescribable contingencies as a major obstacle to the creation of completecontracts. Using agents’ minimum foresight concerning possible future payoffs, Maskin and Tirole (Rev Econ Stud 66:83–114, 1999) show that indescribability does not matter for c...

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Bibliographic Details
Main Author: KUNIMOTO, Takashi
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2010
Subjects:
Asymmetric information
Bayesian implementation
Incentive compatibility
Incomplete contracts
Indescribability
Individual rationality
Irrelevance theorem
Economics
Economic Theory
Online Access:https://ink.library.smu.edu.sg/soe_research/1987
https://ink.library.smu.edu.sg/context/soe_research/article/2986/viewcontent/101007_2Fs10058_009_0082_y.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/1987
https://ink.library.smu.edu.sg/context/soe_research/article/2986/viewcontent/101007_2Fs10058_009_0082_y.pdf

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