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Think Twice Before You Sign! An Experiment on a Cautionary Function of Contractual Formalities
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Texas A&M School of Law, United States
Submission date: 2025-10-21
Final revision date: 2026-04-08
Acceptance date: 2026-04-28
Online publication date: 2026-09-15
Publication date: 2026-09-15
Ekonomista 2026;(3):332-347
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ABSTRACT
Contractual formalities, such as handwritten signatures, have long been viewed as serving a cautionary function that protects
individuals from entering ill-considered agreements. With the rise of digital contracting, it is uncertain whether online forms of
assent can play the same role. In an incentivized laboratory experiment, four modes of contract confirmation were compared:
clicking “OK,” typing one’s name, entering a PIN code (analogous to a qualified e-signature), and handwritten signing. The study
examined how these methods affect choices between smaller–sooner and larger–later rewards. Results show that participants
were more impulsive when confirming by clicking “OK” or typing their name than when signing by hand, while no significant difference
was found between handwritten signatures and entering a PIN. These findings suggest that common digital confirmations
fail to reproduce the cautionary effect of handwritten signatures, highlighting the need for more effective online mechanisms.
DATA AVAILABILITY
The data, experimental software (z-Tree), and analysis code that support the findings of this study are openly available on the Open Science Framework at https://doi.org/10.17605/OSF.IO/AF63S.