Indescribability and asymmetric information at the contracting stage
Maskin and Tirole [Maskin, E., Tirole, J., 1999. Unforeseen contingencies and incomplete contracts. Review of Economic Studies, 66, 83–114] show that indescribability does not matter for contractual incompleteness when there is symmetric information both at the contracting stage and at the trading s...
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sg-smu-ink.soe_research-30062017-08-10T09:35:53Z Indescribability and asymmetric information at the contracting stage KUNIMOTO, Takashi Maskin and Tirole [Maskin, E., Tirole, J., 1999. Unforeseen contingencies and incomplete contracts. Review of Economic Studies, 66, 83–114] show that indescribability does not matter for contractual incompleteness when there is symmetric information both at the contracting stage and at the trading stage. Following their setup, I show that with asymmetric information at both stages, indescribability can matter. 2008-05-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/soe_research/2007 info:doi/10.1016/j.econlet.2007.08.007 https://ink.library.smu.edu.sg/context/soe_research/article/3006/viewcontent/1_s20_S0165176507002947_main.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Asymmetric information Incentive compatibility Incomplete contracts Indescribability Individual rationality Behavioral Economics Economic Theory |
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Asymmetric information Incentive compatibility Incomplete contracts Indescribability Individual rationality Behavioral Economics Economic Theory |
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Asymmetric information Incentive compatibility Incomplete contracts Indescribability Individual rationality Behavioral Economics Economic Theory KUNIMOTO, Takashi Indescribability and asymmetric information at the contracting stage |
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Maskin and Tirole [Maskin, E., Tirole, J., 1999. Unforeseen contingencies and incomplete contracts. Review of Economic Studies, 66, 83–114] show that indescribability does not matter for contractual incompleteness when there is symmetric information both at the contracting stage and at the trading stage. Following their setup, I show that with asymmetric information at both stages, indescribability can matter. |
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text |
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KUNIMOTO, Takashi |
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KUNIMOTO, Takashi |
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KUNIMOTO, Takashi |
| title |
Indescribability and asymmetric information at the contracting stage |
| title_short |
Indescribability and asymmetric information at the contracting stage |
| title_full |
Indescribability and asymmetric information at the contracting stage |
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Indescribability and asymmetric information at the contracting stage |
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Indescribability and asymmetric information at the contracting stage |
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indescribability and asymmetric information at the contracting stage |
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Institutional Knowledge at Singapore Management University |
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2008 |
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https://ink.library.smu.edu.sg/soe_research/2007 https://ink.library.smu.edu.sg/context/soe_research/article/3006/viewcontent/1_s20_S0165176507002947_main.pdf |
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