kaal:claim:2267560-041

Contracting parties need to postpone the specification of obligations only if the feedback process in the dynamic framework did not generate sufficient information; where sufficient information is available, contractual incompleteness can be lowered.

Source quote, verbatim

Contracting parties in the incomplete contract model only postpone the specification of obligations if the feedback process in the dynamic framework did not generate sufficient information.

From

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013), IV.1 Optimizing the Learning Process, p. 11
https://ssrn.com/abstract=2267560 · source PDF

Cite as

Wulf A. Kaal, Evolution of Law Dynamic Regulation in a New Institutional Economics Framework (2013). SSRN: https://ssrn.com/abstract=2267560

Holds when

sufficient information is generated by the feedback process

Classification

conditionsupport: arguedinstitutional-designdynamic-regulation

Related claims

generalizes kaal:claim:kaal-2014-dynamicregulationviagove-031 Feedback processes associated with governmental contracts lower contractual incompleteness, because they raise...

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