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This often extends well beyond any explicit contract.
Individuals frequently transfer commodities without an explicit contract or an implicit enforcement mechanism.
Second, we find partial evidence in support of our second hypothesis, which claims that alternative mechanisms make explicit contract incentives redundant.
We envision a new and explicit contract that benefits all parties: Organizations invest in their people across all dimensions of their lives to help them build and sustain their value.
Each of these data exchanges will involve an explicit contract — in digital certificate form — between the individual and the company in question.
They argue that by moving marriage from an implicit status based, patriarchal arrangement to an explicit contract, women's freedom and equality would be enhanced (Weitzman 1985).
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Instead of using markets, companies tend to be organized as hierarchies, using a chain of command and control rather than negotiation, markets and explicit contracts.
The rights of the interacting parties are determined by law, the corporation's charter, and the implicit and explicit contracts with each individual.
When managers are sufficiently guided by social preferences, incentive provision through an organizational mode based on informal implicit contracts may provide a cost-effective alternative to a more formal mode based on explicit contracts and active monitoring.
If the defender of special obligations is attempting to accommodate commonsense morality, then she will have done so to a very limited extent if she allows only those special obligations that are acquired through explicit contracts or promises.
Or that you sign explicit contracts with tier-2 and tier-3 manufacturers and suppliers (since as a startup you're unlikely to get the attention or proper deal terms from a tier 1 like Foxconn), only to have them cut corners on quality and agreed-upon specifications as they try to eke out additional pennies of their own margin.
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