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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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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 6943.

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Date of creation: 1997
Date of revision:
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
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  1. repec:tpr:qjecon:v:109:y:1994:i:4:p:1027-54 is not listed on IDEAS
  2. Ewerhart, Christian & Schmitz, Patrick W., 1996. "Die theoretische Fundierung unvollständiger Verträge," MPRA Paper 6947, University Library of Munich, Germany.
  3. Tirole, J., 1993. "The Internal Organization of Government," Working papers 93-11, Massachusetts Institute of Technology (MIT), Department of Economics.
  4. Schmidt, Klaus M., 1996. "The costs and benefits of privatization: An incomplete contracts approach," Munich Reprints in Economics 19773, University of Munich, Department of Economics.
  5. 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.
  6. Oliver D. Hart, 1987. "Incomplete Contracts and the Theory of the Firm," Working papers 448, Massachusetts Institute of Technology (MIT), Department of Economics.
  7. Seabright, Paul, 1996. "Accountability and decentralisation in government: An incomplete contracts model," European Economic Review, Elsevier, vol. 40(1), pages 61-89, January.
  8. Mathias Dewatripont & Jean Tirole, 1994. "A theory of debt and equity: diversity of securities and manager-shareholder congruence," ULB Institutional Repository 2013/9593, ULB -- Universite Libre de Bruxelles.
  9. Aghion, Philippe & Tirole, Jean, 1994. "Opening the black box of innovation," European Economic Review, Elsevier, vol. 38(3-4), pages 701-710, April.
  10. Mike Burkart & Denis Gromb & Fausto Panunzi, 1997. "Large Shareholders, Monitoring, and the Value of the Firm," The Quarterly Journal of Economics, Oxford University Press, vol. 112(3), pages 693-728.
  11. Mathias Dewatripont & Jean Tirole, 1994. "A Theory of Debt and Equity: Diversity of Securities and Manager-Shareholder Congruence," The Quarterly Journal of Economics, Oxford University Press, vol. 109(4), pages 1027-1054.
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