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Keyword: unforeseen contingencies;
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Luca Anderlini, Leonardo Felli and Andrew Postlewaite
We study a contracting model with unforeseen contingencies in which the court is an active player. Ex-ante, the contracting parties cannot include the risky unforeseen contingencies in the contract they draw up. Ex-post ...Read more...
Nabil J Al-Najjar, Luca Anderlini and Leonardo Felli
We develop a model of unforeseen contingencies. These are contingencies that are understood by economic agents ' their consequences and probabilities are known' but are such that every description of such events necessar...Read more...