Renegotiation is not Inimical to Friendship

In 2016, Profs. Oliver Hart and Bengt Holmstrom won the Nobel Prize in Economics for theoretical models, whose predictions have received validation in experiences of economic agents in all spheres of economic activity.

In their theoretical models, Profs. Hart and Holmstrom predicted that attempts at arrival at ‘perfect contracts’ are, for lack of better terminology, a waste of time.

--

--

--

Educator and Researcher, Believer in Spirituality, Life is serious business, but we all are pilgrims so I write about important stuff with empathy and ethos

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

A Skeptical Look at HK’s 8 New Virtual Banks*

Post Trump Private Companies Have More Confidence in the U.S. Economy — But Will It Last?

Trade for America:

Happyconomics

How to Make Taxes Work for the Future

Dear Boomers: Get Ready To Work in Your 70's

Stock Markets Continue to Slide, BoC Delivers a Hawkish Double Hike

Weekly Outlook: May 04 — May 08: Trade Woes, RBA and BoE Meetings in Focus Ahead of the NFPs

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Oghenovo Obrimah, PhD

Oghenovo Obrimah, PhD

Educator and Researcher, Believer in Spirituality, Life is serious business, but we all are pilgrims so I write about important stuff with empathy and ethos

More from Medium

Fasting Dating? Why I’m not dating anymore.

The power of Stablecoins, and why you need to get involved now.

Is the American Dream dead?

Skiing — February 2015 — Park City, Utah — Las Vegas! Baby!!!

downtown Las Vegas