Contracts of Inattention

2021 ◽  
pp. 1-26
Author(s):  
Marcel Kahan ◽  
Mitu Gulati
Keyword(s):  
Theory And Practice ◽  
Market Participants ◽  
Fine Print

The standard paradigm of contracting assumes that parties will revise subsequent contracts if a court interpretation of a clause does not reflect their intent. This assumption, however, often does not match behavior—particularly, in boilerplate contracts. We examine the aftermath of an (in)famous 2016 case, Wilmington Savings Fund v. Cash America, to unpack possible reasons for this mismatch between theory and practice. We find evidence of a phenomenon in contracts that involves sophisticated parties who are nevertheless not represented by their own lawyers, lack full awareness of the fine print of the contractual terms, and, having devoted little attention to them, may be eclectic as to their meaning when they enter into these contracts. In these contracts, which we call contracts of inattention, a gap between lawyers’ understanding of a provision and the understanding of market participants is prone to emerge. The potential for such gaps has implications for how courts should interpret contracts of inattention and for how market participants will react to court rulings.

Brain energetics and neurosurgery

1971 ◽  
Vol 34 (1) ◽  
pp. 3-14 ◽  
Author(s):  
Barnes Woodhall ◽  
Richard S. Kramer ◽  
William D. Currie ◽  
Aaron P. Sanders
Keyword(s):  
Hyperbaric Oxygenation ◽  
Energy Levels ◽  
Energy System ◽  
Theory And Practice ◽  
Laboratory Animals ◽  
Content Type ◽  
Duke University ◽  
Brain Energy ◽  
Fine Print ◽  
Brain Energetics

✓ Consecutive studies of brain energetics undertaken at Duke University during a period of 5 years are described. Various forms of stress such as hypoxia, hyperbaric oxygenation, and selected drugs were used to depict quantitative adverse effects upon the brain's basic energy system, and protectant measures evaluated including hypothermia and appropriate substrates. A systematic survey of substrate protectants was carried out in laboratory animals, and the theory and practice of preserving brain energy levels explored. A foundation for clinical application has been established.

scholarly journals Negotiating strategy: importance of the market definition

2019 ◽  
Author(s):  
Kęstutis Peleckis ◽  
Valentina Peleckienė ◽  
Kestutis Peleckis ◽  
Edita Leonavičienė
Keyword(s):  
Market Competition ◽  
Theory And Practice ◽  
Business Strategies ◽  
Market Definition ◽  
Negative Consequences ◽  
Negotiation Strategies ◽  
Market Participants ◽  
The Face ◽  
Business Negotiations ◽  
Practical Implications

Purpose – the purpose of the article is to examine how the extent of competition in the market affects the balance of bargaining powers of market participants. This often results in negative consequences for both buyers and suppliers. This study has important theoretical and practical implications. The authors made an analysis of existing theory and practice on negotiation strategies in a complex way, in accordance with levels of competition. Paper reveals the opportunities to develop and implement these strategies, taking into account market definition options. Research methodology – the paper examines the application of Nash equilibrium to the preparation of negotiation strategies, looking at the function for the best result. The study would help to prepare business strategies for different competition levels. Findings – the ways of preparation of negotiation strategies with different levels of competition, focusing on market definition opportunities. Research limitations – there are not enough measures in international business negotiation theory helping to develop negotiation strategies in the face of distorted market competition and difficulties to define the market. Practical implications – findings of the article will give opportunities for policymakers to develop and implement strategies for business negotiations. Originality – the article consists presentation of new tools for negotiators in preparing negotiating strategies.

scholarly journals International Business Negotiations: Search of the Balance and the Equilibrium of Negotiating Powers, under Distorting Market Conditions of Competition (Monopsony, Oligopsony and Monopoly Cases)

2017 ◽  
Author(s):  
Kęstutis Peleckis ◽  
Valentina Peleckienė ◽  
Kęstutis Peleckis
Keyword(s):  
International Business ◽  
Negative Impact ◽  
Market Competition ◽  
Theory And Practice ◽  
Negotiation Strategy ◽  
Business Negotiation ◽  
Negotiation Theory ◽  
Market Participants ◽  
Business Units ◽  
Business Negotiations

Certain challenges arise in business negotiations when competition in the market is more or less distorted. This can take place in various markets conditions. In such situations great possibilities open up to the development of international business relations as overclocking new market participants can provide additional alternatives for companies and organizations or other business units, by reducing the negative impact of competition distortions for the balance of negotiating power of participants in negotiations. In the development and implementation of effective international business negotiation strategy, it is important to identify the balance of negotiating power of major participants in negotiations in order to make more efficient use of the potential of business negotiations – the negotiating powers. The aim of this article is to analyze in complex the unfolding theory and practice of development and implementation of international business negotiations and negotiating strategies under distorting market competition conditions, to reveal opportunities on development and implementing improvements of these strategies in cases of monopsony, oligopsony and monopoly. Object of the research is the search of balance on negotiating powers in international business negotiations under conditions of distorted competition in the market. The scientific problem - negotiation theory lacks measures for assessment and balancing the negotiating powers of negotiation’s participants under distorted market competition.

Factoring as a Method of Funding Commercial Companies

2021 ◽  
Vol 27 (2) ◽  
pp. 139-144
Author(s):  
A. S. Vtorygin
Keyword(s):  
Financial Management ◽  
Global Market ◽  
Theory And Practice ◽  
Market Participants ◽  
Funding Sources ◽  
Business Entities ◽  
The Times ◽  
The Stability ◽  
Commercial Organizations ◽  
The Impact

Aim. The presented study aims to examine the essence of factoring and explore potential directions for its development in the current economic environment.Tasks. The authors determine the economic substance of factoring, making allowance for the turbulence of the global market environment and the impact of new challenges for the Russian economy.Methods. This study analyzes legislative and regulatory acts as well as works of Russian and foreign scientists regarding the theoretical and practical problems of funding companies through factoring.Results. The factoring market is actively developing, particularly at the times of macroeconomic instability, which slows the turnover of funds in the economy and increases the need for funding sources among market participants. The stability of the factoring market during the COVID crisis serves to illustrate the heightened interest of business entities in factoring as a tool for solving a number of problems in corporate financial management. Some characteristic trends in the development of the Russian factoring market include its synchronization with the international market, active development of blockchain technologies, growing number of market participants and expanding range of services provided within the framework of factoring transactions.Conclusions. Having summarized the theory and practice of factoring development in Russia and abroad, the author concludes that factoring retains its potential as a tool for funding commercial organizations in the context of the development of digital technologies. The demand for factoring services among business entities will continue to grow in the post-COVID economy, which substantiates the practicability of further developing the factoring market and improving the technology behind factoring transactions.

scholarly journals Housing Heterogeneity Dimensions and Their Elements: a Systemic Approach

2017 ◽  
Vol 5 (1) ◽  
pp. 23-37
Author(s):  
Jānis Vanags ◽  
Ineta Geipele ◽  
Auseklis Sarkans ◽  
Didzis Usenieks
Keyword(s):  
Decision Making ◽  
Housing Market ◽  
Building Materials ◽  
Objective Evaluation ◽  
Theory And Practice ◽  
Housing Construction ◽  
Economic Market ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Market Participants

Abstract Housing market participants constantly face the housing heterogeneity - the technical and socio-economic differences of dwellings in a certain populated area. Housing heterogeneity often complicates the managerial decision making related to housing transactions, identification and objective evaluation of the quantitative and qualitative aspects of transactions. Housing heterogeneity is an objective phenomenon that implies housing uniqueness - housing distinguishing characteristics divided into specific and interconnected groups within the framework of the research. Most of these differences can be noticed by each market participant, but some of them can be identified only by experienced and professionally trained market participants. Theory and practice have demonstrated that the constituent groups of heterogeneity influence each other and take part in the formation of market value and transaction price of housing units. The increased housing construction intensity, the continuous modernisation of construction technologies and the diversification of building materials used in housing construction, as well as restriction of the building plot of land change the quantitative and qualitative aspects of heterogeneity dimensions. This poses considerable challenges to market participants in the managerial decision making process related to housing transactions. Research results demonstrate that the socio-economic elements of housing heterogeneity are constantly changing under the influence of the dominating factors of the external and internal environment. Therefore, nowadays, housing heterogeneity has become a major cause of information asymmetry, which means that heterogeneity is inherent in the formation of socio-economic market barriers in the housing market.

Addressing the Content Vocabulary With Core: Theory and Practice for Nonliterate or Emerging Literate Students

2012 ◽  
Vol 21 (3) ◽  
pp. 74-81 ◽  
Author(s):  
Debbie Witkowski ◽  
Bruce Baker
Keyword(s):  
Communication Skills ◽  
High Performance ◽  
Theory And Practice ◽  
Written Communication ◽  
Academic Tasks ◽  
Meaningful Participation ◽  
Core Theory ◽  
Communication Needs ◽  
Core Vocabulary ◽  
Personal Success

Abstract In the early elementary grades, the primary emphasis is on developing skills crucial to future academic and personal success—specifically oral and written communication skills. These skills are vital to student success as well as to meaningful participation in the classroom and interaction with peers. Children with complex communication needs (CCN) may require the use of high-performance speech generating devices (SGDs). The challenges for these students are further complicated by the task of learning language at a time when they are expected to apply their linguistic skills to academic tasks. However, by focusing on core vocabulary as a primary vehicle for instruction, educators can equip students who use SGDs to develop language skills and be competitive in the classroom. In this article, we will define core vocabulary and provide theoretical and practical insights into integrating it into the classroom routine for developing oral and written communication skills.

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