XPAY KNOWLEDGE

Industry WIKI

Digital assets and currencies

Understand assets, networks and trading mechanics with sources you can check.

Implicit contract theory

In economics, implicit contracts refer to voluntary and self-enforcing long term agreements made between two parties regarding the future exchange of goods or services. Implicit contracts theory was first developed to explain why there are quantity adjustments (layoffs) instead of price adjustments (falling wages) in the labor market during recessions.