ABSTRACT
Legal scholarship has long maintained that contractual formalities, such as written signatures, serve a cautionary function by protecting individuals from entering into ill-considered agreements. With the rise of digital contracting, however, it remains unclear whether online forms of assent can fulfill this role. In an incentivized laboratory experiment, I compared four modes of contract conclusion: clicking ‘OK’, typing one’s name, entering a PIN code (analogous to a qualified e-signature), and handwritten signing. The study examined how these different forms of confirmation influence intertemporal choices between smaller-sooner and larger-later rewards. Specifically, I tested whether handwritten signatures promote greater patience, leading individuals to defer gratification in favor of larger future payoffs. The results show that participants were more impulsive when confirming by clicking ‘OK’ or typing their name, compared to handwritten signing. By contrast, no significant differences emerged between handwritten signatures and entering a PIN code. These findings indicate that the most common digital confirmation methods do not replicate the cautionary effect of handwritten signatures, underscoring the need to develop alternative online mechanisms that could serve this function more effectively.
Leszczyńska, Monika, Think Twice Before You Sign! An Experiment on a Cautionary Function of Contractual Formalities (May 1, 2026), Ekonomista, Forthcoming; Texas A&M University School of Law Legal Studies Research Paper.
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