Can Blockchain Solve the Hold-up Problem in Contracts?

Holden, Richard (University of New South Wales, Malani, Anup (University of Chicago)

Description

Conventional contract technologies to ensure commitment—liquidated damages—are disfavored by courts and themselves subject to renegotiation. Smart contracts written on blockchain ledgers offer a solution. We explain the basic economics and legal relevance of these technologies, and we argue that they can implement liquidated damages without courts.
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Writer
Holden, Richard (University of New South Wales, Malani, Anup (University of Chicago)
Title
Can Blockchain Solve the Hold-up Problem in Contracts?
Publisher
Cambridge University Press
Year
2021
Language
English
Pages
58
Weight
102 gr
EAN
9781009001397
Dimensions
229 x 152 x 9 mm
Binding format
Paperback / softback

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