A contingent contract makes commitments self-enforcing by eliminating the need to reconvene or renegotiate when a surprise crops up. A contingent contract eliminates the need to come to an agreement. By allowing parties to bet on their predictions, a contingent contract enables parties to “live with” their differences.
A contingent contract is an official document or verbalization that includes a number of terms and conditions which may only apply in specified scenarios. The document is signed by all parties, meaning that they must carry out (or not complete, if specified) certain actions under certain conditions.
Contingency contracting is an intervention that involves identifying a behavior, the conditions under which the behavior is supposed to occur, and the consequences for both achieving the goal and failing to perform to a criterion.
Example of a Contingency Contract One straightforward example might be a child who agrees with their parent that if they get an A in a particular class, they will get a new bicycle. Of course, the contract may be verbal, and it may be between family members.
Contingent means that an event may or may not occur in the future, depending on the fulfillment of some condition that is uncertain. This term is often used in contracts where the event will not take effect until the specified condition occurs.
In subject area: Social Sciences. Contract theory refers to the idea that humans should agree to norms of behavior in order to establish and maintain social order. It suggests that individuals give up some individual rights to enable cooperation and form larger social groups and institutions.
The term contingency means that the reward or punishment is dependent on the individual`s behavior. It is a positive reinforcement technique that has been widely used in schools, businesses, and healthcare facilities to help individuals change their behaviors.
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For example, a person with substance abuse can contract with co-workers to attend work sober, a person with schizophrenia can contract with a therapist to maintain medication use, and a person with depression can contract with friends to increase attendance at social events.
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