Showing 1 - 10 of 28
Persistent link: https://www.econbiz.de/10008991907
We analyze noncontractible investments in a model with shading. A seller can make an investment that affects a buyer's value. The parties have outside options that depend on asset ownership. When shading is not possible and there is no contract renegotiation, an optimum can be achieved by giving...
Persistent link: https://www.econbiz.de/10012461728
Persistent link: https://www.econbiz.de/10003784228
In a recent paper, Hart and Moore (2008) introduce new behavioral assumptions that can explain long term contracts and important aspects of the employment relation. However, so far there exists no direct evidence that supports these assumptions and, in particular, Hart and Moore's notion that...
Persistent link: https://www.econbiz.de/10003793317
Persistent link: https://www.econbiz.de/10003860734
Persistent link: https://www.econbiz.de/10003880672
Persistent link: https://www.econbiz.de/10003580639
Persistent link: https://www.econbiz.de/10003394251
Persistent link: https://www.econbiz.de/10003873686
Persistent link: https://www.econbiz.de/10009378705