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mamaluj [8]
2 years ago
5

What constitutes a reason for incomplete contracts?

Social Studies
1 answer:
MissTica2 years ago
5 0

Answer:

Incomplete Contracts: Do not optimally use all commonly observ-able information. Will be renegotiated at some point in time (bargain-ing). Reasons for contractual incompleteness: Bounded rationality: Parties cannot write long-term state-contingent contracts. Cannot foresee all possible future states.

Explanation:

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A social Psychologist referred to social loafing as the situation when only three of the four actually do the required work for a group presentation.

Social loafing is a phenomenon in psychology where people work less or exert less effort towards the particular goal of the group while working in a group. Social loafing may not seem visible while calculating the team performance as a whole, this phenomenon occurs when an individual's work is taken into consideration because, in the group, some members actually do the required work while others put less effort leading to the situation of social loafing.

The larger the group, the fewer effort members exert and the more clear social loafing experienced. In this condition, other members have to come forward in order to compensate for the work left by low members.

To learn more about social loafing, follow the below link:

brainly.com/question/7239656

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I can give some ideas. Imagine that you wore a pair of blue jeans to school and your teacher made you pay them 3 bucks because you wore jeans that day. That not fair. So it’s basically the same thing with taxes. Another scenario is say you had a vote in class and everyone wanted to do a fun project but the teacher said “Seems like everyone wants to take notes!” That how Great Britain treated America. Just list how u fair that is and think about it In these cases. It’s the same thing.
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