Competition and Custom in Economic Contracts: A Case Study of Illinois Agriculture.
A customary contract is a set of terms that is standard in a given locale for a given economic purpose. Once established, such a standard tends to perpetuate itself because it creates expectations about what is fair and appropriate in a given type of economic bargain. We propose a dynamic model of h...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
Department of Economics (Johns Hopkins University)
2000
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