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The Inherent Failures of Long-Term Contracts — and How to Fix Them

The Inherent Failures of Long-Term Contracts — and How to Fix Them

Harvard Business Review

Oliver Hart, Nobel-winning Harvard economist, and Kate Vitasek, faculty at the University of Tennessee, argue that many business contracts are imperfect, no matter how bulletproof you try to make them. Especially in complicated relationships such as outsourcing, one side ends up feeling like they’re …

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