Sentence examples for under a basic contract from inspiring English sources
Fig. 1 Information cost of producing q under a basic contract vs. a restrictive contract.
For any given (q,γ ≫0, the buyer's total cost of optimally obtaining q under a restrictive contract is less than the corresponding costs under a basic contract.
Given q, let ( tilde {C^{I}} (q) = tilde {C}_{ell }^{P} (q) - tilde {C}_{h}^{P} (q)) denote the information cost of having q produced under a basic contract, when both types use the neo-classical input mix.
11 Because the buyer has only one choice variable under a basic contract, there is no need to set up a Lagrangian corresponding to (10) to determine the cost function.
where (tilde {C^{I}} (q) = tilde {C}_{ell }^{P} (q) - tilde {C}_{h}^{P} (q)) denotes the information cost of contracting with type ℓ to produce q under a basic contract.
Contracts: A basic contract is one in which the farmer chooses both inputs.
Let (A t,0) denote a basic contract originated at time t with (mathcal {X} =0).
It's a basic contract with the state.
It's a basic contract: 'I worked for you; you didn't pay me.' ".
A basic contract may already be on the table before final terms are agreed to.
Additionally, output is less distorted relative to the first-best level under the restrictive contract than under the basic contract, which also increases her profits.
