Economics: Contract Theory Workshop

20 June 2019, 10.00 AM - 21 June 2019, 3.00 PM

Wills Memorial Building / Berkeley Square

Thursday 20 June

10:00 – 11:00 | Keynote lecture
Chair: Paul Grout (Bristol)
Introduction: Judith Squires, DVC & Provost (Bristol)
Oliver Hart (Harvard) Overcoming Contractual Incompleteness: The Role of Guiding Principles
Reception Room, Wills Memorial Building

11:00 – 11.30 | Coffee

11.30 – 13:00 | Principles-based contracts
Hal Bretan (Chief Counsel, BT Americas Inc.) A Practitioner’s Perspective:  The Need to Rethink Contracting Strategies
Tim Cummins (Founder of IACCM) Deriving Contract Economics through Principles-Based Contracts
Discussant: David Frydlinger (Managing Partner, Cirio law firm)
Moot Court Room, Berkeley Square (rest of the workshop)

13:00 – 14:00 | Lunch

14:00 – 15.30 | Smart contracts
Stephanie Hurder (Founding Economist, Prysm group) The Economic Benefits and Challenges of Smart Contracts
Sarah Green (Bristol) Smart Contracts: A Matter of Interpretation
Discussant: Paul Grout (Bristol)

15.30 – 16:00 | Coffee

16:00 – 17.30 | Contracts and reference points
Klaus Schmidt (LMU Munich) Organizational Change and Reference Dependent Preferences
Christian Zehnder (HEC Lausanne)
Discussant: Eugenio Proto (Bristol)

Friday 21 June

9.30 – 11:15 | Procurement contracts
Albert Sanchez Graells and Nina Boeger (Bristol) The Use of Public Contracts to Regulate the Provision of Outsourced Services
Piotr Bogdanowicz (Warsaw) Modification and Eventual Termination of Complex Public Contracts
Discussant: Susie Smith (Consultant, Bevan Brittan LLP)

11:15 – 11.45 | Coffee

11.45 – 12:30 | Compensation contracts
Eirik Gaard Kristiansen (Norwegian School of Economics) Fair and Square: A Theory of Managerial Compensation
Discussant: Øyvind Aas (ECARES Brussels)

12:00 – 14:00 | Lunch

14:00 – 15:00 | Closing discussion


Paul Grout (Bristol)
Oliver Hart (Harvard)
Hal Bretan (Chief Counsel, BT Americas Inc.)
Tim Cummins (Founder of IACCM)
David Frydlinger (Managing Partner, Cirio law firm)
Stephanie Hurder (Founding Economist, Prysm group)
Sarah Green (Bristol)
Klaus Schmidt (LMU Munich)
Christian Zehnder (HEC Lausanne)
Albert Sanchez Graells (Bristol)
Nina Boeger (Bristol)
Piotr Bogdanowicz (Warsaw)
Eirik Gaard Kristiansen (Norwegian School of Economics)
Maija Halonen-Akatwijuka (Chair) (Bristol)

Contact information

Paul Grout (
Maija Halonen-Akatwijuka (
In-Uck Park (

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