Principle-agent problems in the French slave trade: the case of Rochelais Armateurs and their agents, 1763-1792
La Rochelle, the fourth largest slaving port in France in the eighteenth-century, is used as a case study in the application of agency theory to long-distance trade. This analysis explores an area not accounted for in the literature on French commercial practices. Being broadly couched in a New Institutionalist framework, this study explores the formal and informal institutions designed to curb agency problems, and emphasizes the ex-post strategies such as social rewarding, to which little attention is usually paid. It also finds reputation-effect strategies were efficiently combined with a well-operating legal system. It subsequently challenges the traditional dichotomy between societies where personal links dominated the economy and modern societies where business links are predominantly impersonal. As a result, this empirical analysis leads to a reappraisal of private ordering as opposed to legal centralism and calls for more theoretical research.
|Date of creation:||Apr 2005|
|Contact details of provider:|| Postal: LSE, Dept. of Economic History Houghton Street London, WC2A 2AE, U.K.|
Phone: +44 (0) 20 7955 7084
Web page: http://www.lse.ac.uk/economicHistory/
More information through EDIRC
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.:
- Wintrobe, Ronald & Breton, Albert, 1986. "Organizational Structure and Productivity," American Economic Review, American Economic Association, vol. 76(3), pages 530-538, June.
- Greif, Avner, 1998. "Historical and Comparative Institutional Analysis," American Economic Review, American Economic Association, vol. 88(2), pages 80-84, May.
- Greif, Avner, 1989. "Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders," The Journal of Economic History, Cambridge University Press, vol. 49(04), pages 857-882, December.
- MacLeod, W Bentley & Malcomson, James M, 1988.
"Reputation and Hierarchy in Dynamic Models of Employment,"
Journal of Political Economy,
University of Chicago Press, vol. 96(4), pages 832-854, August.
- Bentley MacLeod & James M. Malcomson, 1985. "Reputation and Hierarchy in Dynamic Models of Employment," Working Papers 628, Queen's University, Department of Economics.
- Carlos, Ann M, 1992. "Principal-Agent Problems in Early Trading Companies: A Tale of Two Firms," American Economic Review, American Economic Association, vol. 82(2), pages 140-145, May.
- Carlos, Ann M. & Nicholas, Stephen, 1990. "Agency Problems in Early Chartered Companies: The Case of the Hudson’s Bay Company," The Journal of Economic History, Cambridge University Press, vol. 50(04), pages 853-875, December.
- Allen, Douglas W., 2002. "The British Navy Rules: Monitoring and Incompatible Incentives in the Age of Fighting Sail," Explorations in Economic History, Elsevier, vol. 39(2), pages 204-231, April.
- Carlos Ann M., 1994. "Bonding and the Agency Problem: Evidence from the Royal African Company, 1672-1691," Explorations in Economic History, Elsevier, vol. 31(3), pages 313-335, July.
- Eltis David & Richardson David, 1995. "Productivity in the Transatlantic Slave Trade," Explorations in Economic History, Elsevier, vol. 32(4), pages 465-484, October.
- Eaton, B Curtis & White, William D, 1982. "Agent Compensation and the Limits of Bonding," Economic Inquiry, Western Economic Association International, vol. 20(3), pages 330-343, July.
- Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-950, October. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:ehl:wpaper:22478. 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: (LSERO Manager on behalf of EH Dept.)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 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.