Sentence examples for under a restrictive contract from inspiring English sources
Under a restrictive contract, the input mix is no longer exogenous to the buyer's decision.
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.
Let (bar {C}^{I} (q,k) = bar {C}_{ell }^{P} (q,k) - bar {C}_{h}^{P} (q,k)) denote the information cost of contracting with type ℓ to produce q with capital level k under a restrictive contract.
For given k, let (bar {C}^{I} (q,k) = bar {C}_{ell }^{P} (q,k) - bar {C}_{h}^{P} (q,k)) denote the information cost of having q produced under a restrictive contract requiring the use of the capital level k.
We begin by determining the minimum cost to the buyer of having type ℓ produce at least q under a restrictive contract for a given γ, while ensuring that type h does not have an incentive to pretend to be type ℓ.
Fig. 1 Information cost of producing q under a basic contract vs. a restrictive contract.
Figure 1 also demonstrates how the buyer can construct a restrictive contract which exactly mimics any basic contract, except for the added restriction on the input mix that h must use if she deviates from truthful behavior.
Channel 4 News said it would be happy to carry out an interview but not with such a restrictive contract.
A restrictive contract is one in which the buyer specifies capital and the farmer chooses labor.
In a restrictive contract for a given (q,γ ≫0, the prescribed capital-effort ratio for the low ability farmer is greater than the neoclassical ratio (tilde {beta }).
Although regarded by some as a restrictive contract, many general practitioners have demonstrated enormous creativity and motivation.
