Oliver Hart, 19 June 2017

Contracts can’t specify everything, as it requires being far-sighted and foreseeing every possible event. In this video, Oliver Hart discusses who gets to decide on the left-out elements, and how control rights are allocated. This video was recorded at the Royal Economic Society Annual Conference held in Bristol in April 2017.

Nicola Lacetera, Devin Pope, Justin Sydnor, 20 May 2011

People like to take shortcuts and this affects how we make decisions. Looking at auctions of more than 22 million used cars in the US, this column finds that buyers will often only pay attention to the first few digits of mileage. So if you have driven your car 30,000 miles, you might have to sell it for $200 less than if you had driven in 29,999 miles.


CEPR Policy Research