Contractual Intermediaries
本文分析了第三方中介在合同执行中的作用，模型显示当信息可验证性有限时，争议解决成本需足够高才能有效执行，最优系统会针对特定群体定制。
This article analyzes the role of third‐party intermediaries in contract enforcement. In our model, intermediaries record information about past actions and resolve disputes when requested to do so by the contracting agents. When the verifiability of information is limited, successful enforcement requires that dispute resolution costs be sufficiently great. Optimal enforcement systems economize on dispute resolution and information costs, and may involve establishment of specific systems tailored to particular groups.