Wednesday, April 3, 2013

Gaining Assurances

Gaining Assurances, article [pdf] by Julia Y. Lee, Wisconsin Law Review, Volume 2012, No. 5
"This Article explores alternative legal mechanisms for solving a type of coordination problem known as the Assurance Game. The traditional approach has been to focus on changing the expectations of the parties. This Article focuses on altering the underlying payoff structure—not through sanctions, but through risk-reducing mechanisms such as guarantees."