Renegotiation and Specific Performance
Abstract
This article will examine the implications of enforcing specific performance for attempted
breach of contract in a model of renegotiation. It will be shown that after the supplier
receives relevant private information, renegotiation does not always occur even though
gains from trade exist. Further, this article will argue that enforcement of specifice
performance and result in a higher level of expected social welfare, appropriately
defined, relative to the case where monetary damages for breach of contract are permitted.
Type
Journal articlePermalink
https://hdl.handle.net/10161/2647Collections
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Show full item recordScholars@Duke
Tracy R. Lewis
Walter M. Upchurch, Jr. Distinguished Professor of Business Administration
Tracy Lewis is a Professor Emeritus of Business Administration at the Fuqua School
of Business at Duke University, where he held the Black Chair in Economics. Professor
Lewis founded the Innovation Center at the University. Prior to joining the Duke University
Faculty in 2003, he served on the faculties at the University of Florida, at the California
Institute of Technology, the University of British Columbia, and the University of
California, Davis. Aside from academic employment, he has also h
This author no longer has a Scholars@Duke profile, so the information shown here reflects
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