Efficient Contracting with Reliance and a Damage Measure
重新审视Shavell和Rogerson研究的违约问题，明确考虑信息不对称和交易专用投资带来的激励问题，推导出最优合同，并证明其能达到完全古典效率。
This article reexamines the problem of breach of contract studied by Shavell (1980, 1984) and Rogerson (1984) by considering explicitly the incentive problems that arise from asymmetric information and transaction-specific investment. We derive the optimal contract, which consists of variable price and damage payment schedules, each of which is set before any private information is observed. We show that the optimal contract attains full classical efficiency.