基于声誉和法律的不完全契约的实施

Incomplete Contracts,Reputation and Law

由于事件的不确定性以及契约的不完全性导致了契约在大多数情况下不能自我实施,契约的实施主要有两种手段——基于声誉的私人执行机制以及基于法律的第三方公开执行机制。另外,两种契约实施方式之间存在着密切的关系,法律执行方式依赖于当事人对声誉的重视程度,而声誉执行方式又要求法律具有较强的威慑力。

Due to the uncertainty of affairs and incompleteness of contracts, contracts can＇t be enforced automatically. There are two main ways with respect to the enforcement of contracts： the private enforcement mechanism based on reputation and the third open enforcement mechanism based on law. And there exists close relation between the two enforcement mechanisms. The style of law enforcement mechanism depends on the agent＇ s concern to reputation, while the style of reputation enforcement mechanism resorts to the strong threat of law.