Can Blockchain Solve the Hold-up Problem in Contracts?
€27.90
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Product Information
| ISBN | 9781009001397 |
|---|---|
| Publisher | Cambridge University Press |
| Price (excl. tax) | €26.32 |
| Tax | €1.58 |
| Price (incl. tax) | €27.90 |
| Availability | 2 units in external warehouse |
Product 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.