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Management article
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Reference no. F0905G
Authors: Deepak Malhotra
Published by: Harvard Business Publishing
Published in: "Harvard Business Review - Forethought", 2009
Length: 4 pages
Topics: Contracts; Trust

Abstract

Contracts exist to foster trust, but they can actually do the opposite. Overly detailed contracts leave no room for spontaneous acts of kindness to create goodwill between parties; too-rigid contracts leave parties unable to respond to the unanticipated; and, strangely enough, incentives can end up being just plain insulting.

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Abstract

Contracts exist to foster trust, but they can actually do the opposite. Overly detailed contracts leave no room for spontaneous acts of kindness to create goodwill between parties; too-rigid contracts leave parties unable to respond to the unanticipated; and, strangely enough, incentives can end up being just plain insulting.

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