Richard Holden (Sydney University of New South Wales), Anup Malani (University of Chicago)

Can Blockchain Solve the Hold-up Problem in Contracts?

• Broschiertes Buch

Produktbeschreibung

Conventional contract technologies to ensure commitmentâ liquidated damagesâ 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.

Produktdetails

• Elements in Law, Economics and Politics
• Verlag: Cambridge University Press
• Seitenzahl: 58
• Erscheinungstermin: 9. November 2021
• Englisch
• Abmessung: 229mm x 152mm x 4mm
• Gewicht: 102g
• ISBN-13: 9781009001397
• ISBN-10: 1009001396
• Artikelnr.: 62917738

Inhaltsangabe

1. Introduction
2. The Hold-up Problem, its Impact and Mechanism Design
3. Possible Solutions to the Hold-up Problem
4. Background on Blockchain and Smart Contracts
5. How Smart Contracts on Blockchain Can Help Reduce Contractual Hold-up
6. Conclusion
Appendix A: Addressing Hold-up with Options Contracts (Noldeke and Schmidt 1995)
Appendix B: Moore-Repullo Revelation Mechanism.