| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3448 |
| DP3448 Labour Market Institutions and Demographic Employment Patterns | |
| Giuseppe Bertola; Francine D Blau; Lawrence Kahn | |
| 发表日期 | 2002-07-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We propose a general framework for analyzing and comparing ownership structures with respect to creating incentives for co-operative behavior (e.g. efficient investment) in long-run relationships. We generalize models by Garvey (1995), Halonen (2002), and Baker, Gibbons and Murphy (2002) and compare their results in the light of our theory, going in depth into the issue of renegotiation of ownership and strategies. We show that when agents are not restricted in their strategy choice, the short?term efficient ownership structure identified by Hart and Moore (1990) is not relational efficient ? i.e. does not maximize the set of discount factors under which efficient investment can be supported in equilibrium of the repeated game. Moreover, the relational efficient ownership structure is independent of what can be renegotiated: ownership, strategies, both or none. |
| 主题 | Industrial Organization |
| 关键词 | Theory of the firm Implicit contracts Incomplete contracts Vertical integration Non-contractual relations Ownership structures Supply relations |
| URL | https://cepr.org/publications/dp3448 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532466 |
| 推荐引用方式 GB/T 7714 | Giuseppe Bertola,Francine D Blau,Lawrence Kahn. DP3448 Labour Market Institutions and Demographic Employment Patterns. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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