The Relationship Between Liability Recourse System and the Efficiency of the Contractual Execution of the Business Alliance*

DOI

10.2991/aebmr.k.191225.108How to use a DOI?

Keywords

liability recourse mechanism, collective reputation, consortium, experimental economics

Abstract

Commercial union use collective reputation as collateral to make believable promise, earning the trust of consumers. This article illustrate the collective reputation how to play a role in consortium, And what kind of responsibility recourse mechanisms should the consortium take to reduce default, and improve the efficiency of contract? It constructs a responsibility recourse model to draw the conclusions, and test these conclusions by experimental economics method. Finally, the conclusions are proved by the responsibility recourse mechanisms, which are significant impact to the experimental results. Joint and several liability recourse mechanism is better at the contract maintenance than collective responsibility recourse mechanism in consortium. These conclusions prove the hypothesis of this article.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xiangjun Zhou
PY  - 2020
DA  - 2020/01/07
TI  - The Relationship Between Liability Recourse System and the Efficiency of the Contractual Execution of the Business Alliance*
BT  - Proceedings of the 5th International Conference on Economics, Management, Law and Education (EMLE 2019)
PB  - Atlantis Press
SP  - 599
EP  - 606
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.191225.108
DO  - 10.2991/aebmr.k.191225.108
ID  - Zhou2020
ER  -