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- Future provision of goods, especially for custom or specialized goods or services where a well-organized and routine market does not exist.
- Mutually beneficial reallocation or sharing of risks, including insurance contracts or partnerships for sharing of profits.
- Differences of opinion regarding future events. Thus each side “bets” on their outcome. Found especially in deals around securities and durable assets.
- Timing of consumption, i.e., borrowing or lending, which allows shifting the time a purchase is made.
Steven Shavell, Foundations of Economic Analysis of Law, pp. 296-97 (2004).