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We just need buyers to find out eventually when sellers do not.In addition, thomcafee vpn safe connectse who read contracts can inform those who do not.This means the result will be the opposite of what we want: not “buyers demand normcompatible terms” but rather “buyers do not demand norm-compatible terms....
Sellers themselves are another source of information.Buyers can learn of terms that violate norms from consumer advocates and organizations, publications like Consumer Reports, and negative publicity arising from consumer complaints and litigation.Professional buyers purchasing for businesses and organizations read to the extent that what they buy depends on contractual terms as well as on price and quality....
Buyers will prefer to buy from the rest, the norm-compatible sellers.We address that question later.In this particular case, it is worth noting that many markets do fairly closely approximate contractual norm completeness....
This assumption is legitimate, since our goal is only to show that if real markets sufficiently approximate perfect competition, then the norm will arise.Buyers When we discussed ideal markets, the perfect information assumption guaranteed that every buyer could spot the incompatible terms in any and every contract.We assume that we have them....
If we try this in real markets, we may end up with some terms that are neither compatible nor incompatible.This assumption is legitimate, since our goal is only to show that if real markets sufficiently approximate perfect competition, then the norm will arise.We just need buyers to find out eventually when sellers do not....
