Feedback processes associated with governmental contracts lower contractual incompleteness, because they raise the availability, timeliness, and quality of information while lowering the cost of contracting.
Source quote, verbatim
Feedback processes associated with governmental contracts can lower contractual incompleteness because the feedback processes increase the degree of availability, timeliness, and quality of information and lower the cost of contracting.
From
Kaal, Dynamic Regulation via Governmental Contracts (2014), IV.1 Improving Incomplete Contracting, p. 25 · source PDF
Cite as
Kaal, Dynamic Regulation via Governmental Contracts (2014)
Classification
mechanismsupport: arguedinstitutional-design
Related claims
specializeskaal:claim:2267560-034 Contractual incompleteness can be lowered through dynamic processes within the rulemaking process, because dyn...
specializeskaal:claim:2267560-041 Contracting parties need to postpone the specification of obligations only if the feedback process in the dyna...
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