Hart, Oliver D.; Moore, John - National Bureau of Economic Research (NBER) - 1998
In the last few years a new area has emerged in economic theory, which goes under the heading of However, almost since … its inception, the theory has been under attack for its lack of rigorous foundations. In this paper, we evaluate some of … the criticisms that have been made of the theory, in particular, those in Maskin and Tirole (1998a). In doing so, we …