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Vertical Integration and Market Structure
Bresnahan, Timothy; Levin, Jonathan - National Bureau of Economic Research (NBER) - 2012
Contractual theories of vertical integration derive firm boundaries as an efficient response to market transaction costs. These theories predict a relationship between underlying features of transactions and observed integration decisions. There has been some progress in testing these...
Persistent link: https://www.econbiz.de/10009652759
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Bidding for Incomplete Contracts: An Empirical Analysis
Bajari, Patrick; Houghton, Stephanie; Tadelis, Steve - National Bureau of Economic Research (NBER) - 2006
Procurement contracts are often incomplete because the initial plans and specifications are changed and refined after the contract is awarded to the lowest bidder. This results in a final cost to the buyer that differs from the low bid, and may also involve significant adaptation and...
Persistent link: https://www.econbiz.de/10005778736
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Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production
Antras, Pol - National Bureau of Economic Research (NBER) - 2011
I survey the influence of Grossman and Hart's (1986) seminal paper in the field of International Trade. I discuss the implementation of the theory in open-economy environments and its implications for the international organization of production and the structure of international trade flows. I...
Persistent link: https://www.econbiz.de/10009321289
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Organizing the Global Value Chain
Antras, Pol; Chor, Davin - National Bureau of Economic Research (NBER) - 2012
We develop a property-rights model of the firm in which production entails a continuum of uniquely sequenced stages. In each stage, a final-good producer contracts with a distinct supplier for the procurement of a customized stage-specific component. Our model yields a sharp characterization for...
Persistent link: https://www.econbiz.de/10011133513
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Employee Spinouts, Social Networks, and Family Firms
Rauch, James E. - National Bureau of Economic Research (NBER) - 2013
Recently collected data show that, within any manufacturing industry, vertically integrated firms tend to have larger, higher productivity plants, account for the bulk of sales, and also sell externally most of the inputs they produce. In a weak contracting environment characteristic of...
Persistent link: https://www.econbiz.de/10010951295
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Free Riding and Sales Strategies for the Internet
Carlton, Dennis W.; Chevalier, Judith - National Bureau of Economic Research (NBER) - 2001
We examine manufacturers' decisions of whether and how to offer their products for sale over the internet. Manufacturers that rely on promotion of their products by brick and mortar retailers must consider the possibility that internet retailers can free ride off of that promotional effort. This...
Persistent link: https://www.econbiz.de/10005084892
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From Farming to International Business: The Social Auspices of Entrepreneurship in a Growing Economy
Munshi, Kaivan - National Bureau of Economic Research (NBER) - 2007
Entrepreneurship has been traditionally concentrated in the hands of a few small communities in most developing economies. As these economies restructure, it is evident that these communities will be unable to satisfy the increased demand for new entrepreneurs. The analysis in this paper...
Persistent link: https://www.econbiz.de/10005777659
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Partnership and Hold-Up in Early America
Bodenhorn, Howard - National Bureau of Economic Research (NBER) - 2002
Williamson (1985) argues that individuals form firms with specific internal governance structures to mitigate certain types of opportunistic behavior that may inhibit efficient contracting between independent contractors. But once firms are established, the individuals that comprise them may...
Persistent link: https://www.econbiz.de/10005579990
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Contractibility and Asset Ownership: On-Board Computers and Governance in U.S. Trucking
Baker, George P.; Hubbard, Thomas N. - National Bureau of Economic Research (NBER) - 2000
We investigate how the contractibility of actions affecting the value of an asset affects asset ownership. We examine this by testing how on-board computer (OBC) adoption affects truck ownership. We develop and test the proposition that adoption should lead to less ownership by drivers,...
Persistent link: https://www.econbiz.de/10005580711
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Outsourcing in a Global Economy
Grossman, Gene; Helpman, Elhanan - National Bureau of Economic Research (NBER) - 2002
We study the determinants of the location of sub-contracted activity in a general equilibrium model of outsourcing and … trade. We model outsourcing as an activity that requires search for a partner and relationship-specific investments that are … governed by incomplete contracts. The extent of international outsourcing depends inter alia on the thickness of the domestic …
Persistent link: https://www.econbiz.de/10005714784