{"title":"Towards a Cross-Disciplinary and Contextual Contract Theory","authors":"P. Goorha","doi":"10.2139/ssrn.2837454","DOIUrl":null,"url":null,"abstract":"The paper proposes a method for introducing ‘context’ within the contractual environment based on a simple application of intuitive control theory. A market-based contractual space is framed within the larger formal institutional space and an even larger cultural space – the spaces together forming a contextual environment. Each space is characterized by a governing law built on a selection of control mechanisms that differ in their approach as well as their reliance on information from feedback. I suggest how these governing laws tie together the contextual spaces and present some ideas on how they might evolve over time through interaction with other spaces.","PeriodicalId":345158,"journal":{"name":"ERN: Markets as Institutions (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2016-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Markets as Institutions (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.2837454","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
The paper proposes a method for introducing ‘context’ within the contractual environment based on a simple application of intuitive control theory. A market-based contractual space is framed within the larger formal institutional space and an even larger cultural space – the spaces together forming a contextual environment. Each space is characterized by a governing law built on a selection of control mechanisms that differ in their approach as well as their reliance on information from feedback. I suggest how these governing laws tie together the contextual spaces and present some ideas on how they might evolve over time through interaction with other spaces.
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