Can Blockchain Solve the Hold-up Problem in Contracts?
Malani Anup (University of Chicago)
9781009001397
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| Author(s) :- Malani Anup (University of Chicago) | Format :- Paperback |
| Publisher :- Cambridge University Press | Pub. Date :- 2021-11-18 |
| ISBN-13 :- 9781009001397 | |
| Series:- Elements in Law, Economics and Politics | |
| Pagination :- 75 pages, Worked examples or Exercises | |
| Dimensions :- 152 x 228 x 9 | |
| Weight :- 102 |
Description
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.
