Research on the Engineering Innovation Risk Allocation from the Perspective of Incomplete Contract

Abstract:

Contract was incomplete naturally. Risk allocation was an important part of the contract. In accordance with the time period, contract could be divided into the initial contracts and re-negotiate contracts. Accordingly, the risk allocation could be divided into the initial contract signing stage of the risk allocation and contract fulfillment stage of the further allocation. The latter played the role in making up and adjusting the former, they constituted a complete framework of risk allocation.The overall framework of risk allocation contributes to its incentive function in the design contract, prompting the designer to take design innovation.

• Periodical: Applied Mechanics and Materials (Volumes 411-414)
• Pages: 2481-2485
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.411-414.2481
• Online since: September 2013
• Authors: Wei Yi He*, Fei Xiang Xu, Ya Ling Du, Yi Hong Wang
• Keywords: Design Innovation, Incomplete Contract, Risk Allocation

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