{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/contracts",
 "identifier": "kaal:entity:contracts",
 "name": "Contracts",
 "termCode": "contracts",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/contracts.md",
 "sha256": "cc0d7e2162634f47600057a8201654690c96ab4c722237a2aaebcaf6708d100f",
 "additionalProperty": [
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 3
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2019",
    "2021"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3373393-010",
   "identifier": "kaal:claim:3373393-010",
   "text": "Residual loss arises because the cost of enforcing suboptimal contracts between principals and agents always exceeds the benefits of performing the contractual obligations.",
   "abstract": "Residual loss arises because the cost of enforcing suboptimal contracts between principals and agents always exceed the benefits of performing the contractual obligations.",
   "citation": "Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393",
   "datePublished": "2019",
   "claim_type": "mechanism",
   "confidence": "asserted",
   "is_failure_mode": true,
   "scope_conditions": [],
   "source_pdf_sha256": "4d1424b9ba9aff8a61bc7a0dddd02cded93785e5843685dde76c07dcdb23961e",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782205-029",
   "identifier": "kaal:claim:3782205-029",
   "text": "Renegotiating contracts every time the currency's value changes is expensive and continually and randomly punishes at least one of the contracting parties.",
   "abstract": "Renegotiating contracts whenever the currency changes is expensive, and continually and randomly punishes at least one of the parties.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205",
   "datePublished": "2021",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "contracts denominated in a fluctuating currency"
   ],
   "source_pdf_sha256": "5ba52c63e81019b6867fb29c4a50821ff574e510d79b31b8ce9f4c726a0ebc71",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3782216-027",
   "identifier": "kaal:claim:3782216-027",
   "text": "A decentralized economy requires stable cryptocurrencies, because renegotiating contracts every time a currency's value changes is inefficient and continually punishes one of the parties.",
   "abstract": "Renegotiating contracts each time the value of a currency changes is inefficient, and continually punishes one of the parties. The economy should not be founded on gambling, so any future decentralized economy requires stable cryptocurrencies.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216",
   "datePublished": "2021",
   "claim_type": "condition",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "absent stablecoins"
   ],
   "source_pdf_sha256": "f1739743aa06bbc1641cd65da790d531b69d8628ea3f5cc3fcad1bf5a1242373",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'contracts'. Derived node: a roster, not an adjudicated definition."
}