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Ausgewählte Anwendungen der Theorie unvollständiger Verträge

  • Ewerhart, Christian
  • Schmitz, Patrick W.

The theory of contracts is one of the most active research areas in economics. While classic contract theory failed to account for institutions such as property rights and authority, the theory of incomplete contracts has overcome these conceptual problems and produced a variety of interesting applications. This paper studies some of these applications. We discuss the management of research and developement activities, privatization, and the division of labor within the government. While the foundations of the theory of incomplete contracts are still a matter of dispute, the applications proved to be very successful and provided many new and exciting insights.

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File URL: http://mpra.ub.uni-muenchen.de/6943/1/MPRA_paper_6943.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 6943.

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Date of creation: 1997
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Publication status: Published in Jahrbuch für Wirtschaftswissenschaften 1.48(1997): pp. 57-69
Handle: RePEc:pra:mprapa:6943
Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
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Web page: http://mpra.ub.uni-muenchen.de

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  1. Dewatripont, Mathias & Tirole, Jean, 1994. "A Theory of Debt and Equity: Diversity of Securities and Manager-Shareholder Congruence," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 1027-54, November.
  2. Schmidt, Klaus M, 1996. "The Costs and Benefits of Privatization: An Incomplete Contracts Approach," Journal of Law, Economics and Organization, Oxford University Press, vol. 12(1), pages 1-24, April.
  3. Aghion, Philippe & Tirole, Jean, 1994. "Opening the black box of innovation," European Economic Review, Elsevier, vol. 38(3-4), pages 701-710, April.
  4. Tirole, Jean, 1994. "The Internal Organization of Government," Oxford Economic Papers, Oxford University Press, vol. 46(1), pages 1-29, January.
  5. Burkart, Mike & Gromb, Denis & Panunzi, Fausto, 1997. "Large Shareholders, Monitoring, and the Value of the Firm," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 693-728, August.
  6. Seabright, Paul, 1996. "Accountability and decentralisation in government: An incomplete contracts model," European Economic Review, Elsevier, vol. 40(1), pages 61-89, January.
  7. Bolton, Patrick & Scharfstein, David S, 1996. "Optimal Debt Structure and the Number of Creditors," Journal of Political Economy, University of Chicago Press, vol. 104(1), pages 1-25, February.
  8. Hart, Oliver D, 1988. "Incomplete Contracts and the Theory of the Firm," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 119-39, Spring.
  9. Ewerhart, Christian & Schmitz, Patrick W., 1996. "Die theoretische Fundierung unvollständiger Verträge," MPRA Paper 6947, University Library of Munich, Germany.
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