Can Blockchain Solve the Hold-up Problem in Contracts?
Can Blockchain Solve the Hold-up Problem in Contracts?
Conventional contract technologies to ensure commitment—liquidated damages—are disfavored by courts and themselves subject to renegotiation. Smart contracts written on blockchain ledgers offer a solution. We explain the basic economics and legal relevance
HOLDEN, RICHARD (UNIVERSITY OF NEW SOUTH WALES, SYDNEY),MALANI, ANUP (UNIVERSITY OF CHICAGO)
Can Blockchain Solve the Hold-up Problem in Contracts?
Conventional contract technologies to ensure commitment—liquidated damages—are disfavored by courts and themselves subject to renegotiation. Smart contracts written on blockchain ledgers offer a solution. We explain the basic economics and legal relevance
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9781009001397Mladinska knjiga ID
9781009001397Leto izida
2021Datum izida
18.11.2021Število strani
58Status dobavljivosti
7-10 delovnih dniZbirka
Elements in Law, Economics and PoliticsZaložnik
Cambridge University PressAvtor
Holden, Richard (University of New South Wales, Sydney),Malani, Anup (University of Chicago)Dimenzije
152 x 228 x 9BIC
JP,JPP,K,LAQ,LNAOpis
Conventional contract technologies to ensure commitment—liquidated damages—are disfavored by courts and themselves subject to renegotiation. Smart contracts written on blockchain ledgers offer a solution. We explain the basic economics and legal relevance of these technologies, and we argue that they can implement liquidated damages without courts.Pogosto kupljeno skupaj
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