Economics Dictionary of Arguments

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Contract theory: Contract theory is the study of how people and organizations construct and develop legal agreements. It is based on the idea that contracts are designed to achieve efficiency by aligning the incentives of the parties involved. Contract theory is a branch of economics that studies how economic actors can and do construct contractual arrangements, generally in the presence of information asymmetry. See also Information asymmetry, Contracts.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

Baruch Spinoza on Contract Theory - Dictionary of Arguments

Höffe I 236
Contract Theory/Treaty/Spinoza/Höffe: The state contract necessary to overcome the state of nature is only valid under utility considerations.
, >Social contract.
A categorical commandment such as the requirement to remain eternally faithful is foolish for Spinoza. In order to be able to expect loyalty to the treaty, more harm than good must therefore follow from the breach of the treaty, which endangers the political stability required for the establishment of a state.
While Hobbes does not grant absolute sovereignty to the monarchy in principle, but for pragmatic reasons, according to Spinoza it belongs to democracy alone(1).
>Democracy, >Th. Hobbes.

1. B. Spinoza, Tractatus theologico-politicus

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

Spinoza I
B. Spinoza
Spinoza: Complete Works Indianapolis 2002

Höffe I
Otfried Höffe
Geschichte des politischen Denkens München 2016

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