Ambiguous contracts: a syntactic approach

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dc.creatorGrant, Simon
dc.creatorKline, Jeff
dc.creatorQuiggin, John
dc.date2017-04-01T14:24:29Z
dc.date.accessioned2026-07-09T07:15:53Z
dc.descriptionWe focus on syntactic aspects of di¤erential awareness that give rise to contractual disputes. Boundedly rational parties use a common language, but do not share a common understanding of the world, leading to ambiguity in both syntactic and semantic forms. In contractual relationships, ambiguity leads to disagreement and disputes. We show that the agents may prefer simpler less ambiguous contracts when facing potential disputes.
dc.identifierdoi:10.22004/ag.econ.153052
dc.identifierhttps://ageconsearch.umn.edu/record/153052/files/WPR13_5.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/153052
dc.identifier.urihttp://hdl.handle.net/123456789/586338
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/153052
dc.titleAmbiguous contracts: a syntactic approach
dc.typeText

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University of Minnesota