More is Less

Discover the intriguing insights of More is Less by Maija Halonen-Akatwijuka, published by Cambridge University Press in 2024. This thought-provoking book, spanning 34 pages, delves into the complexities of contract theory, particularly why contracts often remain incomplete. Halonen-Akatwijuka challenges traditional asymmetric information theories, presenting a fresh perspective that positions contracts as 'reference points.' The author elucidates how differing views on surplus division can render an incomplete contract more advantageous, especially when including contingencies could result in conflicting reference points. Perfect for scholars and practitioners alike, this paperback edition invites readers to rethink conventional wisdom in contract negotiations. Enhance your understanding of contract dynamics with this essential read from a leading voice in the field.