Corrupt Relational Contracting

Research, Preprint OPEN
Lambsdorff, Johann; Teksoz, Sitki Utku;
  • Publisher: Göttingen: Georg-August-Universität Göttingen, Volkswirtschaftliches Seminar
  • Subject: Korruption | Transaktionskosten | Corruption; Secrecy; Transaction costs; Opportunism; Reputation; Trust | Unvollständiger Vertrag | Theorie
    • jel: jel:D23 | jel:K42 | jel:L14
      ddc: ddc:330

Because corruption must be hidden from the public and is not enforced by courts it entails transaction costs, which are larger than those from legal exchange. This suggests that corrupt contracts are primarily relational contracts where legal exchange serves as a basis ... View more
  • References (32)
    32 references, page 1 of 4

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