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Externalities and the allocation of decision rights in the theory of the firm

Bester, Helmut - 2004 - Version 1.3, April 2004

This paper views authority as the right to undertake decisions that have external effects on other members of the organization. Because of contractual incompleteness, monetary incentives are insufficient to internalize these effects in the decision maker's objective. The optimal assignment of...

Persistent link: https://www.econbiz.de/10010366572

On the foundations of the property rights theory of the firm : cooperative investments and message-dependent contracts

Roider, Andreas - 2000 - This version: October 2000

The property-rights theory assumes that trade is non-contractible ex-ante and focusses exclusively on the allocation of property-rights. We derive foundations for this focus on property-rights by identifying scenarios where only one of the simple ownership structures is optimal even though trade...

Persistent link: https://www.econbiz.de/10011539180

Does ABC information exacerbate hold-up problems in buyer-supplier negotiations?

Drake, Andrea R.; Haka, Susan F. - In: The accounting review : a publication of the American … 83 (2008) 1, pp. 29-60

Persistent link: https://www.econbiz.de/10003632918

Intermediaries in bargaining: evidence from business-to-business used-car inventory negotiations

Larsen, Bradley J.; Lu, Hengheng; Zhang, Anthony Lee - 2021

Persistent link: https://www.econbiz.de/10012629000

Regulation of Europe's network industries : the perspective of the new economic theory of federalism

Bickenbach, Frank - 2000

The paper starts with a description of major reforms of EU policy in the network industries. Based on the normative economics of regulation, it then points out generic information and transaction cost problems of regulatory policy making. An appropriate allocation of regulatory competencies may...

Persistent link: https://www.econbiz.de/10011491086

Exit options in incomplete contracts with asymmetric information

Bester, Helmut; Krähmer, Daniel - 2008

This paper analyzes bilateral contracting in an environment with contractual incompleteness and asymmetric information. One party (the seller) makes an unverifiable quality choice and the other party (the buyer) has private information about its valuation. A simple exit option contract, which...

Persistent link: https://www.econbiz.de/10010343931

Externalities, communication and the allocation of decision rights

Bester, Helmut - 2005

This paper views authority as the right to undertake decisions that impose externalities on other members of the organization. When only decision rights can be contractually assigned to one of the organization's stakeholders, the optimal assignment minimizes the resulting inefficiencies by...

Persistent link: https://www.econbiz.de/10010299085

Relational contracting, repeated negotiations, and hold-up : conference paper

Kranz, Sebastian - 2013

relational contracts are repeatedly newly negotiated during relationships. Negotiations take place with positive probability and …

Persistent link: https://www.econbiz.de/10010336791

Chapter 12 Aggregate investment

Caballero, Ricardo J. - In: Handbook of macroeconomics : volume 1, part B, (pp. 813-862). 1999

The 1990s have witnessed a revival in economists' interest and hope of explaining aggregate and microeconomic investment behavior. New theories, better econometric procedures, and more detailed panel data sets are behind this movement. Much of the progress has occurred at the level of...

Persistent link: https://www.econbiz.de/10014024233

Does the Free Market for Labor Care about Fairness?

Venkatasubramanian, Venkat - 2010

The excessive compensation packages of CEOs of U.S. corporations in recent years have brought the issue of fairness to …, cares only about efficiency and not fairness. We present an alternative theory that shows that an ideal free market … environment also promotes fairness, as an emergent property resulting from the self-organizing market dynamics. Even though an …

Persistent link: https://www.econbiz.de/10013147959