: how do contracts, presumed to be susceptible to hold-up problems due to incompleteness, control production arrangements … that by their nature invite opportunism? Relying on publicly-available contracts taken from a number of industries, I argue …

in addressing braided contracts …

. To support this first claim, evidence from collaborative contracts is presented. The second claim is that, because both …

literature, the analysis shows that a product cycle can be obtained even with complete contracts. This is so because retaining …

Why do innovative organizations often reallocate authority? I propose a simple theory in which innovation with new … only commit to an ex-ante allocation of authority. I show that a reallocation of authority (i.e., delegation followed by … centralization) can be an optimal response to localized information within an organization. Generally, the decision to reallocate …