Contract, Renegotiation, and Hold Up: General Results on the Technology of Trade and Investment
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Watson, Joel & Buzard, Kristy, 2012. "Contract, renegotiation, and hold up: Results on the technology of trade and investment," Theoretical Economics, Econometric Society, vol. 7(2), May.
References listed on IDEAS
- Hart, Oliver D & Moore, John, 1988.
"Incomplete Contracts and Renegotiation,"
Econometrica,
Econometric Society, vol. 56(4), pages 755-785, July.
- Hardman Moore, John & Hart, Oliver, 1985. "Incomplete Contracts and Renegotiation," CEPR Discussion Papers 60, C.E.P.R. Discussion Papers.
- Oliver Hart & John Moore, 1985. "Incomplete Contracts and Renegotiation," Working papers 367, Massachusetts Institute of Technology (MIT), Department of Economics.
- Oliver Hart & John Moore, 1999.
"Foundations of Incomplete Contracts,"
Review of Economic Studies,
Oxford University Press, vol. 66(1), pages 115-138.
- Oliver Hart & John Moore, 1998. "Foundations of Incomplete Contracts," Harvard Institute of Economic Research Working Papers 1846, Harvard - Institute of Economic Research.
- Oliver Hart & John Moore, 1998. "Foundations of Incomplete Contracts," NBER Working Papers 6726, National Bureau of Economic Research, Inc.
- Hart, Oliver & Moore, John, 1998. "Foundations of incomplete contracts," LSE Research Online Documents on Economics 19354, London School of Economics and Political Science, LSE Library.
- Georg Noldeke & Klaus M. Schmidt, 1995.
"Option Contracts and Renegotiation: A Solution to the Hold-Up Problem,"
RAND Journal of Economics,
The RAND Corporation, vol. 26(2), pages 163-179, Summer.
- Georg Nöldeke & Klaus M. Schmidt, 1992. "Option Contracts and Renegotiation - A Solution to the Hold-Up Problem," Discussion Paper Serie A 417, University of Bonn, Germany, revised Aug 1993.
- Nöldeke, Georg & Schmidt, Klaus M., 1995. "Option contracts and renegotiation: A solution to the Hold-Up Problem," Munich Reprints in Economics 19329, University of Munich, Department of Economics.
- Joel Watson, 2007.
"Contract, Mechanism Design, and Technological Detail,"
Econometrica,
Econometric Society, vol. 75(1), pages 55-81, January.
- Joel Watson, 2002. "Contract, Mechanism Design, and Technological Detail," Theory workshop papers 505798000000000006, UCLA Department of Economics.
- Watson, Joel, 2006. "Contract, Mechanism Design, and Technological Detail," University of California at San Diego, Economics Working Paper Series qt2m08n7cg, Department of Economics, UC San Diego.
- Watson, Joel, 2002. "Contract, Mechanism Design, and Technological Detail," University of California at San Diego, Economics Working Paper Series qt18x0r2nn, Department of Economics, UC San Diego.
- Guriev Sergei, 2003.
"Incomplete Contracts with Cross-Investments,"
The B.E. Journal of Theoretical Economics,
De Gruyter, vol. 3(1), pages 1-32, August.
- Sergei Guriev, 2003. "Incomplete Contracts with Cross-Investments," Sciences Po publications info:hdl:2441/67o636bvfi8, Sciences Po.
- Andrew Postlewaite, 2007.
"Courts of Law and Unforeseen Contingencies,"
Journal of Law, Economics, and Organization,
Oxford University Press, vol. 23(3), pages 662-684, October.
- Luca Anderlini & Leonardo Felli & Andrew Postlewaite, 2001. "Courts of Law and Unforeseen Contingencies," PIER Working Paper Archive 06-001, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Jan 2006.
- Anderlini, Luca & Felli, Leonardo & Postlewaite, Andrew, 2003. "Courts of law and unforeseen contingencies," LSE Research Online Documents on Economics 3576, London School of Economics and Political Science, LSE Library.
- Luca Anderlini & Leonardo Felli & Andrew Postlewaite, 2003. "Courts of Law and Unforeseen Contingencies," STICERD - Theoretical Economics Paper Series 447, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Luca Anderlini, Leonardo Felli & Andrew Postlewaite, 2003. "Courts of Law and Unforeseen Contingencies," Working Papers gueconwpa~03-03-26, Georgetown University, Department of Economics.
- Anderlini, Luca & Felli, Leonardo & Postlewaite, Andrew, 2001. "Courts of Law and Unforeseen Contingencies," CEPR Discussion Papers 2835, C.E.P.R. Discussion Papers.
- Alexander Stremitzer, 2012.
"Standard Breach Remedies, Quality Thresholds, and Cooperative Investments,"
Journal of Law, Economics, and Organization,
Oxford University Press, vol. 28(2), pages 337-359.
- Stremitzer, Alexander, 2008. "Standard Breach Remedies, Quality Thresholds, and Cooperative Investments," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 242, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Eric Maskin & John Moore, 1999.
"Implementation and Renegotiation,"
Review of Economic Studies,
Oxford University Press, vol. 66(1), pages 39-56.
- Maskin, Eric & Moore, John, 1998. "Implementation and renegotiation," LSE Research Online Documents on Economics 19350, London School of Economics and Political Science, LSE Library.
- Eric Maskin & John Moore, 1999. "Implementation and Renegotiation," Harvard Institute of Economic Research Working Papers 1863, Harvard - Institute of Economic Research.
- Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
- Yeon-Koo Che & József Sákovics, 2004.
"A Dynamic Theory of Holdup,"
Econometrica,
Econometric Society, vol. 72(4), pages 1063-1103, July.
- Che,Y.-K. & Sakovics,J., 2001. "A dynamic theory of holdup," Working papers 25, Wisconsin Madison - Social Systems.
- Yeon-Koo Che & Jozsef Sakovics, 2001. "A Dynamic Theory of Holdup," ESE Discussion Papers 74, Edinburgh School of Economics, University of Edinburgh.
- William P. Rogerson, 1992. "Contractual Solutions to the Hold-Up Problem," Review of Economic Studies, Oxford University Press, vol. 59(4), pages 777-793.
- Georg Noeldeke & Klaus Schmidt, 1998.
"Sequential Investments and Options to Own,"
RAND Journal of Economics,
The RAND Corporation, vol. 29(4), pages 633-653, Winter.
- Nöldeke, Georg & Schmidt, Klaus M., 1997. "Sequential Investments and Options to Own," CEPR Discussion Papers 1645, C.E.P.R. Discussion Papers.
- Nöldeke, Georg & Schmidt, Klaus M., 1998. "Sequential investments and options to own," Munich Reprints in Economics 19327, University of Munich, Department of Economics.
- Matthew Ellman, 2006.
"Specificity Revisited: The Role of Cross-Investments,"
Journal of Law, Economics, and Organization,
Oxford University Press, vol. 22(1), pages 234-257, April.
- Matthew Ellman, 2004. "Specificity Revisited: The Role of Cross-Investments," Working Papers 150, Barcelona Graduate School of Economics.
- Matthew Ellman, 2004. "Specificity revisited: The role of cross-investments," Economics Working Papers 799, Department of Economics and Business, Universitat Pompeu Fabra, revised Jan 2005.
- Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
- Grout, Paul A, 1984. "Investment and Wages in the Absence of Binding Contracts: A Nash Bargining Approach," Econometrica, Econometric Society, vol. 52(2), pages 449-460, March.
- Aghion, Philippe & Dewatripont, Mathias & Rey, Patrick, 1994.
"Renegotiation Design with Unverifiable Information,"
Econometrica,
Econometric Society, vol. 62(2), pages 257-282, March.
- Mathias Dewatripont & Philippe Aghion & Patrick Rey, 1994. "Renegotiation design with unverifiable information," ULB Institutional Repository 2013/9591, ULB -- Universite Libre de Bruxelles.
- Aghion, Philippe & Dewatripont, Mathias & Rey, Patrick, 1994. "Renegotiation Design with Unverifiable Information," Scholarly Articles 12375014, Harvard University Department of Economics.
- Sandeep Baliga & Tomas Sjöström, 2009.
"Contracting with Third Parties,"
American Economic Journal: Microeconomics,
American Economic Association, vol. 1(1), pages 75-100, February.
- Sandeep Baliga & Tomas Sjostrom, 2005. "Contracting with Third Parties," Levine's Bibliography 784828000000000408, UCLA Department of Economics.
- Tai-Yeong Chung, 1991. "Incomplete Contracts, Specific Investments, and Risk Sharing," Review of Economic Studies, Oxford University Press, vol. 58(5), pages 1031-1042.
- Robert Evans, 2008.
"Simple Efficient Contracts in Complex Environments,"
Econometrica,
Econometric Society, vol. 76(3), pages 459-491, May.
- Evans, R., 2006. "Simple Efficient Contracts in Complex Environments," Cambridge Working Papers in Economics 0627, Faculty of Economics, University of Cambridge.
- Jesse Bull, 2012. "Third-Party Budget Breakers and Side Contracting in Team Production," Economics Bulletin, AccessEcon, vol. 32(3), pages 2606-2614.
- Thomas P. Lyon, 2004.
"Buyer-Option Contracts Restored: Renegotiation, Inefficient Threats, and the Hold-Up Problem,"
Journal of Law, Economics, and Organization,
Oxford University Press, vol. 20(1), pages 148-169, April.
- Thomas P. Lyon & Eric Rasmusen, 2004. "Buyer-Option Contracts Restored: Renegotiation, Inefficient Threats, and the Hold-Up Problem," Working Papers 2004-10, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
- Paul Beaudry & Michel Poitevin, 1995.
"Contract Renegotiation: A Simple Framework and Implications for Organization Theory,"
Canadian Journal of Economics,
Canadian Economics Association, vol. 28(2), pages 302-335, May.
- Beaudry, P. & Poitevin, M., 1993. "Contract Renegotiation: A Simple Framework and Implications for Organization Theory," Cahiers de recherche 9332, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Leonid Hurwicz, 1994. "Economic design, adjustment processes, mechanisms, and institutions," Review of Economic Design, Springer;Society for Economic Design, vol. 1(1), pages 1-14, December.
- Evans, R., 2006. "Mechanism Design with Renegotiation and Costly Messages," Cambridge Working Papers in Economics 0626, Faculty of Economics, University of Cambridge.
- Sabine Böckem & Ulf Schiller, 2008. "Option Contracts in Supply Chains," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 17(1), pages 219-245, March.
- Sönje Reiche, 2006. "Ambivalent Investment and the Hold-Up Problem," Journal of the European Economic Association, MIT Press, vol. 4(6), pages 1148-1164, December.
- Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
- Andreas Roider, 2004. "Asset Ownership and Contractibility of Interaction," RAND Journal of Economics, The RAND Corporation, vol. 35(4), pages 787-802, Winter.
- Edlin, Aaron S & Hermalin, Benjamin E, 2000. "Contract Renegotiation and Options in Agency Problems," Journal of Law, Economics, and Organization, Oxford University Press, vol. 16(2), pages 395-423, October.
- Ilya Segal, 1999. "Complexity and Renegotiation: A Foundation for Incomplete Contracts," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 57-82.
- Edlin, Aaron S & Reichelstein, Stefan, 1996.
"Holdups, Standard Breach Remedies, and Optimal Investment,"
American Economic Review,
American Economic Association, vol. 86(3), pages 478-501, June.
- Aaron S. Edlin & Stefan Reichelstein, 1995. "Holdups, Standard Breach Remedies, and Optimal Investment," NBER Working Papers 5007, National Bureau of Economic Research, Inc.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- James R. Brennan & Joel Watson, 2013.
"The Renegotiation-Proofness Principle and Costly Renegotiation,"
Games,
MDPI, Open Access Journal, vol. 4(3), pages 1-20, July.
- Watson, Joel & Brennan, Jim, 2002. "The Renegotiation-Proofness Principle and Costly Renegotiation," University of California at San Diego, Economics Working Paper Series qt4242n025, Department of Economics, UC San Diego.
- Robert Gibbons, Editor & John Roberts, Editor, 2012. "The Handbook of Organizational Economics," Economics Books, Princeton University Press, edition 1, number 9889.
- Joel Watson, 2013.
"Contract and Game Theory: Basic Concepts for Settings with Finite Horizons,"
Games,
MDPI, Open Access Journal, vol. 4(3), pages 1-40, August.
- Watson, Joel, 2006. "Contract and Game Theory: Basic Concepts for Settings with Finite Horizons," University of California at San Diego, Economics Working Paper Series qt0wx67671, Department of Economics, UC San Diego.
- James E. Rauch & Joel Watson, 2015.
"Client-Based Entrepreneurship,"
Journal of Law, Economics, and Organization,
Oxford University Press, vol. 31(1), pages 30-60.
- James E. Rauch & Joel Watson, 2010. "Client-Based Entrepreneurship," NBER Working Papers 15933, National Bureau of Economic Research, Inc.
- Göller, Daniel, 2015. "Contract, Renegotiation, and Holdup: When Should Messages be Sent?," Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113166, Verein für Socialpolitik / German Economic Association.
- repec:inu:caeprp:2014004 is not listed on IDEAS
- Vasconcelos, Luís, 2014.
"Contractual signaling, relationship-specific investment and exclusive agreements,"
Games and Economic Behavior,
Elsevier, vol. 87(C), pages 19-33.
- Vasconcelos, Luis, 2006. "Contractual signalling, relationship-specific investment and exclusive agreements," FEUNL Working Paper Series wp495, Universidade Nova de Lisboa, Faculdade de Economia.
- Mostafa Beshkar, 2014. "Arbitration and Renegotiation in Trade Agreements," Caepr Working Papers 2014-004, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington.
- Ilya Segal & Michael D.Whinston, 2012. "Property Rights," Introductory Chapters,in: Robert Gibbons & John Roberts (ed.), : The Handbook of Organizational Economics Princeton University Press.
More about this item
Keywords
trade; investments; Social and Behavioral Sciences;JEL classification:
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cdl:ucsdec:qt3923q7kz. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lisa Schiff). General contact details of provider: http://edirc.repec.org/data/deucsus.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.