契约理论及其相关术语解释

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

Contract theoryFrom Wikipedia, the free encyclopedia.

Contract theory is the body of legal thought that investigates normative and conceptual problems in contract law.

Contents // [showhide] 1 Why Are Contracts Enforced 2 Default Rules and Complete Contracts 3 Economics 4 See also [edit] Why Are Contracts Enforced

The central problem for contract theory is the question, Why are contracts enforced? One prominent answer to this question focuses on the economic benefits of enforcing bargains. This first approach could be said to offer a utilitarian theory of contracts. A second approach to the question emphasizes the role of promise and draws on deontological moral theory. This second view is associated with Charles Fried, who articulated the promise theory of contract in his book Contract as Promise.

[edit]

Default Rules and Complete Contracts

Contract theory also utilizes the notion of a complete contract, which is thought of as a contract that specifies the legal consequences of every possible state of the world. Because it would be impossible and costly for the parties to an agreement to make their contract complete, the law provides default rules which fill in the gaps in the actual agreement of the parties.

[edit]

Economics

In economics, the theory of contracts is part of information economics and descibes how economic actors use particular contractual arrangements to deal with information asymmetries.

Where the principal is not informed about a certain characteristic of the agent, an adverse selection problem may arise, e.g. in the case of health insurance which is more likely to be taken out by people who are likely to get sick. One of the pioneers of this branch of economics was George Akerlof, who described adverse selection in the market for used cars. In certain models, such as Michael Spence's job-market model, the agent can signal his type to the principal which may help to resolve the problem.

In moral hazard models, information asymmetries result from the principal's inability to oberserve the agent's action. Thus, performance-based contracts will be employed to create incentives for the agent to act in the principal's interest, such as in the case of managerial compensation.

The more recent development known as the theory of incomplete contracts, pioneered by Oliver Hart and his coauthors, points out the incentive effects the party's inability to write complete contingent contracts, e.g. concerning relationship-specific investments.

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享0 收藏21 回帖

关键词：契约理论 术语解释 Consequences Compensation MORAL HAZARD 解释 理论 术语 契约

A complete contract is an important concept from contract theory.

If the parties to an agreement could specify their respective rights and duties for every possible future state of the world, their contract would be complete. There would be no gaps in the terms of the contract.

However, because it would be prohibitively expensive to write a complete contract, contracts in the real world are usually incomplete. When a dispute arises and the case falls into a gap in the contract, the courts must step in and fill in the gap. The idea of a complete contract is closely related to the notion of Default rules, e.g. legal rules that will fill the gap in a contract in the absence of a agreed upon provision.

A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. The promise or promises may be express (either written or oral) or may be implied from circumstances.

Typically, the remedy for breach of contract is an award of money damages intended to restore the injured party to the economic position that he or she expected from performance of the promise or promises (known as an "expectation measure" of damages).

Occasionally a court will order a party to perform his or her promise (an order of "specific performance" or "quantum meruit"), but this remedy is unusual. In the civil law, contracts are considered to be part of the general law of obligations.

评论：简单了些，好像作者是学法律的，而不是专攻经济学的。