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Joint ownership and the hold-up problem under asymmetric information Author info | Abstract | Publisher info | Download info | Related research | Statistics Schmitz, Patrick W.
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In the standard property rights theory, joint ownership cannot be optimal, because it induces smaller investments in human capital than ownership by a single party. This result can be overturned if the parties have private information about the payoffs they can realize on their own.
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Article provided by Elsevier in its journal Economics Letters .
Volume (Year): 99 (2008)
Issue (Month): 3 (June)
Pages: 577-580
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Handle: RePEc:eee:ecolet:v:99:y:2008:i:3:p:577-580Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Eric Maskin & John Riley, 1984.
"Monopoly with Incomplete Information ,"
RAND Journal of Economics ,
The RAND Corporation, vol. 15(2), pages 171-196, Summer.
[Downloadable!] (restricted)
Rosenkranz, Stephanie & Schmitz, Patrick W., 2003.
"Optimal allocation of ownership rights in dynamic R&D alliances ,"
Games and Economic Behavior ,
Elsevier, vol. 43(1), pages 153-173, April.
[Downloadable!] (restricted)
Other versions: Hart, Oliver & Moore, John, 1999.
"Foundations of Incomplete Contracts ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 66(1), pages 115-38, January.
[Downloadable!] (restricted)
Other versions: Stephanie Rosenkranz & Patrick W. Schmitz, 2004.
"Joint Ownership And Incomplete Contracts: The Case Of Perfectly Substitutable Investments ,"
Schmalenbach Business Review (sbr) ,
LMU Munich School of Management, vol. 56(1), pages 72-89, January.
[Downloadable!]
Other versions: Hart, Oliver & Moore, John, 1990.
"Property Rights and the Nature of the Firm ,"
Journal of Political Economy ,
University of Chicago Press, vol. 98(6), pages 1119-58, December.
[Downloadable!] (restricted)
Other versions: Oliver Hart & John Moore, 2007.
"Incomplete Contracts and Ownership: Some New thoughts ,"
American Economic Review ,
American Economic Association, vol. 97(2), pages 182-186, May.
[Downloadable!]
Bajari, Patrick & Tadelis, Steven, 2001.
"Incentives versus Transaction Costs: A Theory of Procurement Contracts ,"
RAND Journal of Economics ,
The RAND Corporation, vol. 32(3), pages 387-407, Autumn.
Other versions: Grossman, Sanford J & Hart, Oliver D, 1986.
"The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration ,"
Journal of Political Economy ,
University of Chicago Press, vol. 94(4), pages 691-719, August.
[Downloadable!] (restricted)
Other versions: Oliver E. Williamson, 2002.
"The Theory of the Firm as Governance Structure: From Choice to Contract ,"
Journal of Economic Perspectives ,
American Economic Association, vol. 16(3), pages 171-195, Summer.
[Downloadable!] (restricted)
Aghion, Philippe & Tirole, Jean, 1994.
"The Management of Innovation ,"
The Quarterly Journal of Economics ,
MIT Press, vol. 109(4), pages 1185-1209, November.
[Downloadable!] (restricted)
Maija Halonen, 2002.
"Reputation And The Allocation Of Ownership ,"
Economic Journal ,
Royal Economic Society, vol. 112(481), pages 539-558, July.
[Downloadable!] (restricted)
Rosenkranz, Stephanie & Schmitz, Patrick W., 1999.
"Know-how disclosure and incomplete contracts ,"
MPRA Paper
12533, University Library of Munich, Germany.
[Downloadable!]
Other versions: Schmitz, Patrick W., 2005.
"Information Gathering, Transaction Costs and the Property Rights Approach ,"
CEPR Discussion Papers
5417, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions: Jean Tirole, 1999.
"Incomplete Contracts: Where Do We Stand? ,"
Econometrica ,
Econometric Society, vol. 67(4), pages 741-782, July.
Aghion, Philippe & Tirole, Jean, 1994.
"On the Management of Innovation ,"
IDEI Working Papers
36, Institut d'Économie Industrielle (IDEI), Toulouse.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Schmitz, Patrick W., 2001.
"The Hold-Up Problem and Incomplete Contracts: A Survey of Recent Topics in Contract Theory ,"
MPRA Paper
12562, University Library of Munich, Germany.
[Downloadable!]
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