Incomplete Contracts And The Product Style

DOWNLOAD

Download Incomplete Contracts And The Product Style PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Incomplete Contracts And The Product Style book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

Incomplete Contracts And The Product Style

DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2005

Incomplete Contracts And The Product Style written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.

Incomplete Contracts And The Product Cycle

DOWNLOAD
Author : Pol Antràs
language : en
Publisher:
Release Date : 2003

Incomplete Contracts And The Product Cycle written by Pol Antràs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Incomplete contracts categories.

The incomplete nature of contracts governing international transactions limits the extent to which the production process can be fragmented across borders. In a dynamic, general-equilibrium Ricardian model of North-South trade, the incompleteness of international contracts is shown to lead to the emergence of product cycles. Because of contractual frictions, goods are initially manufactured in the North, where product development takes place. As the good matures and becomes more standardized, the manufacturing stage of production is shifted to the South to benefit from lower wages. Following the property-rights approach to the theory of the firm, the same force that creates product cycles, i.e., incomplete contracts, opens the door to a parallel analysis of the determinants of the mode of organization. The model gives rise to a new version of the product cycle in which manufacturing is shifted to the South first within firm boundaries, and only at a later stage to independent firms in the South. Relative to a world with only arm's length transacting, allowing for intrafirm production transfer by multinational firms is shown to accelerate the shift of production towards the South, while having an ambiguous effect on relative wages. The model delivers macroeconomic implications that complement the work of Krugman (1979), as well as microeconomic implications consistent with the findings of the empirical literature on the product cycle.

Incomplete Contracts Vertical Integration And Product Market Competition

DOWNLOAD
Author : Maija Halonen
language : en
Publisher:
Release Date : 1997

Incomplete Contracts Vertical Integration And Product Market Competition written by Maija Halonen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Vertical integration categories.

The Impact Of Incomplete Contracts On Economics

DOWNLOAD
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.

More Is Less

DOWNLOAD
Author : Maija Halonen-Akatwijuka
language : en
Publisher:
Release Date : 2013

More Is Less written by Maija Halonen-Akatwijuka 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.

Why are contracts incomplete? Transaction costs and bounded rationality cannot be a total explanation since states of the world are often describable, foreseeable, and yet are not mentioned in a contract. Asymmetric information theories also have limitations. We offer an explanation based on "contracts as reference points". Including a contingency of the form, "The buyer will require a good in event E", has a benefit and a cost. The benefit is that if E occurs there is less to argue about; the cost is that the additional reference point provided by the outcome in E can hinder (re)negotiation in states outside E. We show that if parties agree about a reasonable division of surplus, an incomplete contract can be strictly superior to a contingent contract.

International Agreements On Product Standards

DOWNLOAD
Author : Pierpaolo Battigalli
language : en
Publisher:
Release Date : 2003

International Agreements On Product Standards written by Pierpaolo Battigalli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Standardization categories.

Incomplete Contracts And Renegotiation

DOWNLOAD
Author : Oliver D. Hart
language : en
Publisher:
Release Date : 1985

Incomplete Contracts And Renegotiation written by Oliver D. Hart and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Contracts categories.

The Hold Up Problem And Incomplete Contracts

DOWNLOAD
Author : Patrick W. Schmitz
language : en
Publisher:
Release Date : 2001

The Hold Up Problem And Incomplete Contracts written by Patrick W. Schmitz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.

Contract theory is one of the most active fields of research in contemporary microeconomics. One of the reasons why it has been particularly popular in recent years may be the fact that many economists think that the incomplete contracts approach as pioneered by Grossman and Hart (1986) and Hart and Moore (1990) can help to answer important questions regarding the boundaries of the firm, which have been raised by Coase (1937) and more recently by Williamson (1985). In the meantime, the incomplete contract paradigm has been fruitfully applied to many relevant economic topics which are no longer restricted to the theory of the firm. However, several economic theorists still feel uncomfortable about important issues surrounding the incomplete contracts approach. Such concerns have lead some researchers to a renewed interest in the more traditional theory of complete contracts, which is closely related to the theory of implementation or mechanism design. This article complements existing surveys on contract theory in two ways. First, the surveys that I am aware of are of a quite technical nature and therefore difficult to access for readers who are not already specialists in the field. In contrast, while trying to be as rigorous as necessary, this paper presents all ideas verbally without any mathematical pyrotechnics. Second, instead of attempting to be exhaustive and to provide final answers, this paper is focused on some specific topics which received particular attention by researchers in recent years and puts emphasis on open questions that should be addressed in future research.

Incomplete Contracts And The Theory Of The Firm

DOWNLOAD
Author : Oliver Simon D'Arcy HART
language : en
Publisher:
Release Date : 1987

Incomplete Contracts And The Theory Of The Firm written by Oliver Simon D'Arcy HART and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with categories.

Incomplete Contracts And The External Organization Of Firms

DOWNLOAD
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.