Blockchain Solutions for Contract Hold-Up Issues by Richard Holden & Anup Malani 2021 Paperback-image
Blockchain Solutions for Contract Hold-Up Issues by Richard Holden & Anup Malani 2021 Paperback-image

Blockchain Solutions for Contract Hold-Up Issues by Richard Holden & Anup Malani 2021 Paperback

$ 13.21

Publisher: Cambridge University Press brand: Cambridge University Press Author: Richard Holden, Anup Malani Synopsis: A vexing problem in contract law is modification. Two parties sign a contract but before they fully perform, they modify the contract. Should courts enforce the modified agreement? A private remedy is for the parties to write a contract that is robust to hold-up or that makes the facts relevant to modification verifiable. Provisions accomplishing these ends are renegotiation-design and revelation mechanisms. But implementing them requires commitment power. 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. We address the hurdles courts may impose to use of smart contracts on blockchain and show that sophisticated parties' ex ante commitment to them may lead courts to allow their use as pre-commitment devices., 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. Dewey Edition: 23 Language: English LC Classification Number: K845.E44 ISBN-10: 1009001396 Illustrator: Yes Item Height: 0.2 in Publication Year: 2021 Number of Pages: 75 Pages Features: New Edition Table Of Content: 1. Introduction; 2. The Hold-up Problem, its Impact and Mechanism Design; 3. Possible Solutions to the Hold-up Problem; 4. Background on Blockchain and Smart Contracts; 5. How Smart Contracts on Blockchain Can Help Reduce Contractual Hold-up; 6. Conclusion; Appendix A: Addressing Hold-up with Options Contracts (Noldeke and Schmidt 1995); Appendix B: Moore-Repullo Revelation Mechanism. Genre: Political Science Edition Description: New Edition Item Length: 9 in ISBN-13: 9781009001397 Format: Trade Paperback Book Title: Can Blockchain Solve the Hold-Up Problem in Contracts? Book Series: Elements in Law, Economics and Politics Ser. Item Width: 5.9 in Dewey Decimal: 346.0220285574 gtin13: 9781009001397 Topic: Public Policy / Economic Policy

Description

Can Blockchain Solve the Hold-up Problem in Contracts?, Paperback by Holden, Richard; Malani, Anup, ISBN 1009001396, ISBN-13 9781009001397, Brand New, Free shipping in the US

  1. This book delivers a fascinating deep dive into how blockchain technology might address contract hold-up issues. The authors present a well-researched, clear argument that’s both insightful and practical—perfect for anyone curious about blockchain’s real-world applications beyond crypto. Highly recommend for legal and tech enthusiasts alike!

    Priyadarshni

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