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Williamson again puts forward forms of contract law:
*Classical Contract Law (covered in [[Williamson (1979) - Transaction Cost Economics | Williamson (1979)]])
*NeoClassical Contract Law (new material covered below)
Arbitration is very costly, and the range of disturbances it can support is limited. As disturbances get very large, this framework is no longer optimal.
 
==Forebearance==
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