Presented by Nicholas Yannelis, Commerce Distinguished Alumni Professor, University of Illinois at Urbana-Champaign
In any society (economy) individuals who are privately informed write contracts. Can one make sure that the contract written is a "good "one? But what is a good contract? What properties should a good contract have? Does superior private information play a role in the formation of a contract? Are good contracts implementable? Can one characterize good contracts? Can we learn anything from observing how contracts were written in the past? How long does it take to learn? Is it possible to predict future contracts?