Incomplete Contracts and Strategic Ambiguity
探讨经济合同为何经常留有未完全规定的义务,即存在“缺口”,从战略模糊性角度解释不完全合同现象。
Economic agents rarely write optimally complete contracts in the Arrow-Debreu sense. Few regard this as puzzling, since contractual completeness of this kind is often technically infeasible. Our concern here is with the question of why contracts so often leave the contracting parties' obligations incompletely specified; that is, of why they contain "gaps".