Incomplete Contracts And The Internal Organization Of Firms
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Incomplete Contracts And The Internal Organization Of Firms
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Author : Philippe Aghion
language : en
Publisher:
Release Date : 2013
Incomplete Contracts And The Internal Organization Of Firms written by Philippe Aghion and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Economics categories.
We survey the theoretical and empirical literature on decentralization within firms. We first discuss how the concept of incomplete contracts shapes our views about the organization of decision-making within firms. We then overview the empirical evidence on the determinants of decentralization and on the effects of decentralization on firm performance. A number of factors highlighted in the theory are shown to be important in accounting for delegation, such as heterogeneity and congruence of preferences as proxied by trust. Empirically, competition, human capital and IT also appear to foster decentralization. There are substantial gaps between theoretical and empirical work and we suggest avenues for future research in bridging this gap.
The Empirical Implications Of The Grossman Hart Model
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Author : W. Bentley MacLeod
language : en
Publisher:
Release Date : 2014
The Empirical Implications Of The Grossman Hart Model written by W. Bentley MacLeod and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Incomplete Contracts And The External Organization Of Firms
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Author : Philippe Aghion
language : en
Publisher:
Release Date : 2013
Incomplete Contracts And The External Organization Of Firms written by Philippe Aghion and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Contract Theory
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Author : Patrick Bolton
language : en
Publisher: MIT Press
Release Date : 2004-12-10
Contract Theory written by Patrick Bolton and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-12-10 with Business & Economics categories.
A comprehensive introduction to contract theory, emphasizing common themes and methodologies as well as applications in key areas. Despite the vast research literature on topics relating to contract theory, only a few of the field's core ideas are covered in microeconomics textbooks. This long-awaited book fills the need for a comprehensive textbook on contract theory suitable for use at the graduate and advanced undergraduate levels. It covers the areas of agency theory, information economics, and organization theory, highlighting common themes and methodologies and presenting the main ideas in an accessible way. It also presents many applications in all areas of economics, especially labor economics, industrial organization, and corporate finance. The book emphasizes applications rather than general theorems while providing self-contained, intuitive treatment of the simple models analyzed. In this way, it can also serve as a reference for researchers interested in building contract-theoretic models in applied contexts.The book covers all the major topics in contract theory taught in most graduate courses. It begins by discussing such basic ideas in incentive and information theory as screening, signaling, and moral hazard. Subsequent sections treat multilateral contracting with private information or hidden actions, covering auction theory, bilateral trade under private information, and the theory of the internal organization of firms; long-term contracts with private information or hidden actions; and incomplete contracts, the theory of ownership and control, and contracting with externalities. Each chapter ends with a guide to the relevant literature. Exercises appear in a separate chapter at the end of the book.
The Nature Of The Firm
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Author : Oliver E. Williamson
language : en
Publisher: Oxford University Press, USA
Release Date : 1993
The Nature Of The Firm written by Oliver E. Williamson and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
The Firm As A Nexus Of Treaties
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Author : Masahiko Aoki
language : en
Publisher: Sage Publications (CA)
Release Date : 1990
The Firm As A Nexus Of Treaties written by Masahiko Aoki and has been published by Sage Publications (CA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Industrial organization categories.
Leading experts on the theory of the firm advance a new approach to understanding the nature of the firm, and open up the prospect of a new interdisciplinary "science of organization".
Incomplete Contracts And Industrial Organization
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Author : Gene M. Grossman
language : en
Publisher:
Release Date : 1999
Incomplete Contracts And Industrial Organization written by Gene M. Grossman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Contracts categories.
The Impact Of Incomplete Contracts On Economics
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Author : Philippe Aghion
language : en
Publisher: Oxford University Press
Release Date : 2015-12-22
The Impact Of Incomplete Contracts On Economics written by Philippe Aghion and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-22 with Business & Economics categories.
The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.
Firms Organizations And Contracts
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Author : Peter J. Buckley
language : en
Publisher:
Release Date : 1996
Firms Organizations And Contracts written by Peter J. Buckley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
The operations of the firm lie at the heart of studying business and business economics. This volume--the first in the new Oxford Management Readers Series--brings together the classic articles analyzing the role of firms and the relations between them, focusing particularly on the increasingly widespread idea that a firm is based on a set of internal and external contracts. The book will be an invaluable tool for teachers and students of business, economics, and management. The editors' Introduction provides an accessible overview, and Nobel prizewinner Ronald Coase contributes a foreword.
The Mechanisms Of Governance
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Author : Oliver E. Williamson
language : en
Publisher: Oxford University Press
Release Date : 1996-02-29
The Mechanisms Of Governance written by Oliver E. Williamson and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-02-29 with Business & Economics categories.
This book brings together in one place the work of one of our most respected economic theorists, on a field in which he has played a large part in originating: the New Institutional Economics. Transaction cost economics, which studies the governance of contractual relations, is the branch of the New Institutional Economics with which Oliver Williamson is especially associated. Transaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms, as a production function, transaction cost economics describes the firm in organizational terms, as a governance structure. Alternative feasible forms of organization--firms, markets, hybrids, bureaus--are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance. Transaction cost economics has had a pervasive influence on current economic thought about how and why institutions function as they do, and it has become a practical framework for research in organizations by representatives of a variety of disciplines. Through a transaction cost analysis, The Mechanisms of Governance shows how and why simple contracts give way to complex contracts and internal organization as the hazards of contracting build up. That complicates the study of economic organization, but a richer and more relevant theory of organization is the result. Many testable implications and lessons for public policy accrue to this framework. Applications of both kinds are numerous and growing. Written by one of the leading economic theorists of our time, The Mechanisms of Governance is sure to be an important work for years to come. It will be of interest to scholars and students of economics, organization, management, and law.