In this paper it is demonstrated that voluntary bargaining over a collective decision under asymmetric information may well lead to ex post efficiency if the default decision is non-trivial. It is argued that the default decision may be interpreted as a 'simple' contract that the parties have...

This article provides a non-technical survey on recent topics in the theory of contracts. The hold-up problem is presented and the incomplete contracts approach is discussed. Emphasis is put on conceptual problems and open questions that await further research.

Inagricultural production, a stylized fact known as the rotationeffect says crop rotations generate higher yields or productivitythan identical crops grown in isolated monocultures. This paperdevelops a dynamic data envelopment analysis (DEA) model of cropproduction that accounts for the...

Формируется комплексное представление о взаимосвязи инвестиций и инноваций через анализ данной взаимосвязи на различных уровнях экономического анализа. На...