The economics of feuding in late medieval Germany

I examine the problem of contracting over time and space in late medieval Germany, where there was nothing like a modern state with a territorial monopoly of force. As a law merchant that could be used to enforce compliance did not exist either, the threat of resorting to a feud helped actors credibly to commit to contracts. The article analyzes which institutions restricted feuding and why these rules were generally respected, examines the calculus which led to the decision to declare a feud, and explains how this helped to realize gains from exchange.