The paper investigates how competition between two multiproduct downstream firms in vertical relationships affects horizontal relationships: competitor collaboration and performance difference. When the upstream market consists of exclusive suppliers, the efficient firm may have incentive for...

We in this paper provide an analytical structure to endogenize the optimal gestational surrogacy contract in terms of a simple moral hazard framework. We show that altruistic surrogacy is optimal only if the surrogate has lower outside option and is sufficiently altruistic. Otherwise commercial...

Standard property rights theory (whether static or dynamic) assumes assets are specific, but once this assumption is in place, the level of asset specificity has no bearing on the make-or-buy decision. While there are good reasons to doubt the universality of transaction cost economics'...

The Commonwealth of Independent States (CIS) countries, or more broadly the former republics of the USSR, actually make a choice between European (EU) and Eurasian integration (EAEU), which leads to certain benefits and risks for all CIS+ countries (including Ukraine and Georgia), especially for...

One of the important features of Blockchain is that it allows the hosting and execution of contracts. Such a contract in the digital world is known as a Smart Contract. But the process and consequences of a contract vary radically from one format of Blockchain to another. One of the formats (and...

Do firms benefit from external as well as internal performance enhancements? Using proprietary information from a significant fraction of the API tool provision industry, we explore the impact of API adoption and complementary investments on firm performance. Data include external as well as...

We examine the role of the Indian diaspora in the outsourcing of work to India. Our data are taken from oDesk, the world’s largest online platform for outsourced contracts. Despite oDesk minimizing many of the frictions that diaspora connections have traditionally overcome, diaspora...

Empirically-documented associations between network position and organizational performance could be driven by unobserved resources. I study this issue theoretically, by developing an equilibrium model of inter-firm network formation. Specifically, I investigate how an organization's resource...

This short piece discusses recent Government Accountability Office (GAO) data chronicling an increase in the Defense Department's reliance on indefinite-delivery/indefinite-quantity (or IDIQ) contracts. The data also indicates that, despite the clearly established preference for multiple awards,...

This paper considers the implications of Generics and Budapest Bank for the legal treatment of vertical restraints (in particular in the context of the ongoing review of the Block Exemption Regulation). The analysis focuses on two of the main justifications for vertical restraints, namely brand...