In an environment in which both buyers and sellers can undertake match specific investments, the presence of market competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In particular, this paper shows that when matching is...

We identify the inefficiencies that arise when negotiation between two parties takes place in the presence of transaction costs. First, for some values of these costs it is efficient to reach an agreement but the unique equilibrium outcome is one in which agreement is never reached. Secondly,...

Purpose ? The purpose of this paper examines some of the controversies facing business schools in their future evolution and pays particular attention to their competitive positioning as centres of management research. Design/methodology/approach ? The paper combines and builds on current...