Title :
Foundations of Incomplete Contract Theory: A Survey
Author :
Hao Yunhong ; Gaojie
Author_Institution :
Coll. of Bus. Adm., Zhejiang Gongshang Univ., Hangzhou, China
Abstract :
It is difficult for incomplete contract theory (ICT) to modeling under the consumption of bounded rationality. After the GHM model, the challenge for its robust foundation hasn´t stopped. Besides, the robustness becomes perfect after the disputes between MT and HMS. Theirs debate is focus on theory´s foundation. This paper formalizes the disputes in an integrated framework and comments on the constraint. Finally, this paper illuminates the development about the foundation of the theory.
Keywords :
economics; GHM model; ICT foundation; bounded rationality; incomplete contract theory; Contracts; Costs; Educational institutions; Investments; Mechanical factors; Optimal control; Power generation economics; Robustness; Standardization; Statistics;
Conference_Titel :
Computational Intelligence and Software Engineering, 2009. CiSE 2009. International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-4507-3
Electronic_ISBN :
978-1-4244-4507-3
DOI :
10.1109/CISE.2009.5363923
