# kaal:claim:2267560-041

**Claim.** 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.

**Type.** condition  **Support.** argued

**Holds when.**

- sufficient information is generated by the feedback process

**Source quote.**

> 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, page 11

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

**Verify.** sha256 of source PDF `7ecc9dd1826121a95bf252476cdaa1c8737ad8079e12caf66c4342ffae7af8af` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Evolution%20of%20Law%20Dynamic%20Regulation%20in%20a%20New%20Institutional%20Economics%20Framework.pdf

**Topics.** institutional-design, dynamic-regulation

**Keywords.** incomplete-contracts, feedback-effects, information-sufficiency, dynamic-regulation

**Related claims.**

- generalizes: https://wulfkaal.github.io/claims/kaal-2014-dynamicregulationviagove-031

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