Dynamic incentive compatibility constraints typify the “relational” type of these things, which substitute for functioning markets per Rocco Macchiavello. John B. Taylor modeled nominal rigidity with two labor unions who possess “staggered” types of these things. When these things are costly to create, Sanford Grossman and Oliver Hart argued that the (15[1])allocation of “residual rights” determines the boundary of the firm. (*) Bengt Holmström theorized the optimal type of these things, which are “complete” when principals can specify payoffs under every contingency. The set of Pareto efficient allocations that each agent prefers to their endowment is the “curve” named for these things, which is drawn on an Edgeworth box. For 10 points, economic theorists often model what binding agreements, whose legal requirements include consideration? ■END■