Long-Term Contracts – Current Issues Cover Image

Актуални въпроси на дългосрочното договаряне
Long-Term Contracts – Current Issues

Author(s): Yuli Radev
Subject(s): Economy
Published by: Стопанска академия »Д. А. Ценов«
Keywords: long-term contracts; incomplete contracts; limited rationality; transaction costs; information asymmetry

Summary/Abstract: The present publication discusses some of the current issues of long-term contracts that are related to the specification and execution of incomplete contracts. Our attention is focused on the concept of limited rationality along with two related funda-mental questions: (1) How is limited rationality modelled?; and (2) Is the assumption of limited rationality consistent with theories that are traditionally based on the postulate of complete rationality?

  • Issue Year: 2/2012
  • Issue No: 1-BG
  • Page Range: 38-64
  • Page Count: 27
  • Language: Bulgarian