In the real world, virtually all purchases involve some type of specialized investment. For instance, by driving to a particular supermarket, you invest time and gasoline that is valuable to you only if you purchase groceries at that supermarket. Discuss, why don’t consumers sign contracts with supermarkets to prevent the supermarkets from engaging in opportunism once they are inside the store.

Answer rating: 100% (QA)

Answer Step 1 Ans Opportunism refers to those behaviors that can exploit an established relation... View the full answer