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Outsource magazine: thought-leadership and outsourcing strategy | August 24, 2017

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Relational Contracting

Herbert Simon: “Economic Man” and “Bounded Rationality”

May 5, 2017 | 2

Herbert Simon explored the intersection of philosophy, science, politics, economics and a range of other fields and called into question the traditional idea that “economic man” acts rationally. Simon, who was a long-time professor at Carnegie Mellon University, received the … Read More

Unlocking the value of Accountable Care Organizations by choosing the right contractual approach

February 27, 2017 |

“There has got to be a better way!” That’s the common lament from all aspects of the healthcare industry from providers, payers, and patients alike when talking about the relationship between those three parties. It not unusual to hear complaints … Read More

Hart, Holmstrom: Contract theory and incomplete contracts

January 6, 2017 |

Professors Bengt Holmström (MIT) and Oliver Hart (Harvard) received the 2016 Nobel Prize in economic science in October for their work in the realm of contract theory and, most intriguing, the nature of contracts as being essentially incomplete.

The Nobel … Read More

Brexit: a black swan with unexpected relevance for outsourcing contracts

July 12, 2016 | 2

Europe is in turmoil after Great Britain’s vote to leave the European Union. Those who now claim to know what will happen now – in outsourcing or in other areas – will make two big mistakes: First, they will show … Read More

Stewart Macaulay: pioneer for relational contracting

July 14, 2015 | 1

Stewart Macaulay – Professor of Law Emeritus, University of Wisconsin Law School – occupies a unique place in the evolution, awareness and acceptance of relational contracting. In fact one might safely argue that he helped set relational contract theory in … Read More

Some Questions and Answers about Relational Contracting

July 15, 2014 | 1

For quite some time now, there has been much talk about the need for a more collaborative approach in outsourcing. In this context, the concept of relational or collaborative contracting often appears. Because of the strong business reasons to use … Read More