на главную поиск contacts

Costly Coasian Contracts

Опубликовано на портале: 29-04-2005
LSE, STICERD - Theoretical Economics Paper Series. 1998.  No. 362.
We identify and investigate the basic 'hold-up' problem which arises whenever each party to a contract has to pay some ex-ante cost for the contract to become feasible. We then proceed to show that, under plausible circumstances, a `contractual solution' to this hold-up problem is not available. This is because a contractual solution to the hold-up problem typically entails writing a 'contract over a contract' which generates a fresh set of ex-ante costs, and hence is associated with a new hold-up problem. We conclude the paper investigating two applications of our results to a static and to a dynamic principal-agent model.

текст статьи в формате pdf на сайте London School of Economics:
Ключевые слова

См. также:
Михаил Григорьевич Завельский
Экономическая наука современной России. 1998.  № 2. С. 57-67. 
Balas Vedres, David Stark
Российский журнал менеджмента. 2005.  Т. 3. № 3. С. 43-80. 
Георгий Джемалович Гловели
Экономическая наука современной России. 2002.  № 1. С. 152-155. 
Phelim P. Boyle, Mark Broadie, Paul Glasserman
Journal of Economic Dynamics and Control. 1997.  Vol. 21. No. 8-9. P. 1267-1321 . 
Robert Geske
Journal of Financial Economics. 1979.  Vol. 7. No. 1. P. 63-81.