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Agency Theory : Methodology, Analysis

By: Material type: TextTextSeries: Forschungsergebnisse der Wirtschaftsuniversitaet Wien ; 3Publisher: Bern Peter Lang International Academic Publishers 2018Description: 1 online resource (241 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
Other title:
  • A Structured Approach to Writing Contracts
Subject(s): Online resources: Summary: Designing a contract is often more of an economic than a legal problem. A good contract protects parties against opportunistic behavior while providing motivation to cooperate. This is where economics and, especially contract theory, may prove helpful by enhancing our understanding of incentive issues. The purpose of this book is to provide specific tools which will help to write better contracts in real world environments. Concentrating on moral hazard literature, this book derives a tentative checklist for drafting contracts. As an economic contribution to a field traditionally considered an art rather than a science, this treatment also gives much attention to methodological issues.
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Designing a contract is often more of an economic than a legal problem. A good contract protects parties against opportunistic behavior while providing motivation to cooperate. This is where economics and, especially contract theory, may prove helpful by enhancing our understanding of incentive issues. The purpose of this book is to provide specific tools which will help to write better contracts in real world environments. Concentrating on moral hazard literature, this book derives a tentative checklist for drafting contracts. As an economic contribution to a field traditionally considered an art rather than a science, this treatment also gives much attention to methodological issues.

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