Departing from the seminal question that Coase raised in his 1937 work, this article discusses and assesses incomplete contracts theories' analyses of the firm's boundaries - notably transaction cost theory and the modern theory of property rights - by investigating the case of the vertical...

In public procurement a temporal separation between award and actual contract allows private entrepreneurs who did not get the award to sue to become contractor. Hence, not only the award-winning entrepreneur, but also the losers will engage in relationship-specific investments. Unfortunately,...