This paper studies the design of optimal, privately-stipulated
damages when breach of contract is possible at more than one point
in time. It offers an intuitive explanation for why cancellation
fees for some services (e.g., hotel reservations) increase as the
time for performance approaches. If the seller makes investments
over time to improve her value from trade, she will protect the
value of her investments by demanding a higher compensation when
the buyer breaches their contract at a time closer to when contract
performance is due.
General
| Imprint: |
Bibliogov
|
| Country of origin: |
United States |
| Release date: |
June 2013 |
| First published: |
June 2013 |
| Authors: |
Fan Zhang
|
| Dimensions: |
246 x 189 x 2mm (L x W x T) |
| Format: |
Paperback - Trade
|
| Pages: |
32 |
| ISBN-13: |
978-1-289-06098-5 |
| Categories: |
Books >
Social sciences >
Politics & government >
General
|
| LSN: |
1-289-06098-3 |
| Barcode: |
9781289060985 |
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