UCL logo

UCL Discovery

UCL home » Library Services » Electronic resources » UCL Discovery

Contradiction as a form of contractual incompleteness

Heller, D; Spiegler, R; (2008) Contradiction as a form of contractual incompleteness. ECON J , 118 (530) 875 - 888.

Full text not available from this repository.

Abstract

A simple model is presented, in which contradictory instructions are viewed as a type of contract incompleteness. The model provides a complexity-based rationale for contradictory instructions. If there are complexity bounds on the contract, there may be an incentive to introduce contradictions, leaving for another agent the task of interpreting them. The optimal amount of contradictions depends on the complexity bound, the conflict of interests with the interpreter and the institutional constraints on his interpretations. In particular, a higher complexity bound may result in a larger amount of contradictions.

Type: Article
Title: Contradiction as a form of contractual incompleteness
Keywords: COSTS
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/54669
Downloads since deposit
0Downloads
Download activity - last month
Download activity - last 12 months
Downloads by country - last 12 months

Archive Staff Only

View Item View Item