Contract failure
id:
contract-failure-250-527007
title:
Contract failure
text:
Contract failure describes a situation in which the consumer of a good or service is unable to evaluate its quality, thus incentivizing the producer to produce a lower quality good or service. Such behavior creates suboptimal economic conditions. Contract failure is one explanation for the existence of non-profit organizations, although even non-profits can fall victim to contract failure in the right situations. Contract failure is connected to, but distinct from, market failure. Generally, non
brand slug:
wiki
category slug:
encyclopedia
description:
Economic theory
original url:
https://en.wikipedia.org/wiki/Contract_failure
date created:
date modified:
2023-02-12T10:58:21Z
main entity:
{"identifier":"Q16951254","url":"https://www.wikidata.org/entity/Q16951254"}
image:
fields total:
13
integrity:
14