| Dynamic Contract Breach Contributor(s): Zhang, Fan (Author), U. S. Department of Justice Antitrust Di (Created by) |
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ISBN: 1289060983 ISBN-13: 9781289060985 Publisher: Bibliogov OUR PRICE: $14.96 Product Type: Paperback Published: June 2013 |
| Additional Information |
| BISAC Categories: - Political Science |
| Physical Information: 0.07" H x 7.44" W x 9.69" (0.17 lbs) 32 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: This paper studies the design of optimal, privately-stipulated damages when breach of contract is possible at more than one point in time. It offers an intuitive explanation for why cancellation fees for some services (e.g., hotel reservations) increase as the time for performance approaches. If the seller makes investments over time to improve her value from trade, she will protect the value of her investments by demanding a higher compensation when the buyer breaches their contract at a time closer to when contract performance is due. |
