# Incomplete contracting

`kaal:entity:incomplete-contracting`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `incomplete-contracting`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2019 to 2022.

**2019**

- [3396522-026](https://wulfkaal.github.io/claims/3396522-026) [failure/argued] *(failure mode)* -- Full hardcoding is impossible: no stable cryptocurrency can encode all required policies and policy actions with full transparency, because future policy needs cannot be anticipated ex ante.
  > No stable cryptocurrency can hardcode all required policies and policy making actions with full transparency as future policy cannot be fully anticipated ex ante, before the needs occur.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522

**2022**

- [4067783-021](https://wulfkaal.github.io/claims/4067783-021) [failure/argued] *(failure mode)* -- Code is law fails as a complete business ordering because business ventures very rarely proceed exactly as written in smart contract code: real business relationships are far messier and more multivalent than a series of smart contracts can predict.
  > In reality, very rarely does any business venture proceed exactly as planned in smart contract code because the reality of business relationships is far more messy and multivalent than can be predicted by a series of smart contracts.
  Wulf A. Kaal, DAO Fallacies (2022). SSRN: https://ssrn.com/abstract=4067783

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/incomplete-contracting.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.