| 000 | 02297nam a2200361 i 4500 | ||
|---|---|---|---|
| 001 | CR9781009004794 | ||
| 003 | UkCbUP | ||
| 005 | 20240830164239.0 | ||
| 006 | m|||||o||d|||||||| | ||
| 007 | cr|||||||||||| | ||
| 008 | 201029s2021||||enk o ||1 0|eng|d | ||
| 020 | _a9781009004794 (ebook) | ||
| 020 | _z9781009001397 (paperback) | ||
| 040 |
_aUkCbUP _beng _erda _cUkCbUP |
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| 050 | 4 |
_aK840 _b.H76 2021 |
|
| 082 | 0 | 4 |
_a346.02 _223 |
| 100 | 1 |
_aHolden, Richard T., _d1974- _eauthor. |
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| 245 | 1 | 0 |
_aCan blockchain solve the hold-up problem in contracts? / _cRichard Holden, Anup Malani. |
| 264 | 1 |
_aCambridge : _bCambridge University Press, _c2021. |
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| 300 |
_a1 online resource (48 pages) : _bdigital, PDF file(s). |
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| 336 |
_atext _btxt _2rdacontent |
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| 337 |
_acomputer _bc _2rdamedia |
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| 338 |
_aonline resource _bcr _2rdacarrier |
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| 490 | 0 |
_aCambridge elements. Elements in law, economics and politics _x2732-4931 |
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| 500 | _aTitle from publisher's bibliographic system (viewed on 27 Oct 2021). | ||
| 520 | _aA 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. | ||
| 650 | 0 |
_aContracts _xEconomic aspects. |
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| 650 | 0 | _aBlockchains (Databases) | |
| 700 | 1 |
_aMalani, Anup, _eauthor. |
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| 776 | 0 | 8 |
_iPrint version: _z9781009001397 |
| 856 | 4 | 0 | _uhttps://doi.org/10.1017/9781009004794 |
| 942 |
_2ddc _cEB |
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| 999 |
_c10077 _d10077 |
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