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Author : Oliver Hart
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (248 download)
Download or read book Foundations of Incomplete Contracts /by Oliver Hart and John Moore written by Oliver Hart and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Oliver D. Hart
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.3/5 (243 download)
Download or read book Foundations of Incomplete Contracts written by Oliver D. Hart and published by . This book was released on 1998 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last few years a new area has emerged in economic theory, which goes under the heading of However, almost since its inception, the theory has been under attack for its lack of rigorous foundations. In this paper, we evaluate some of the criticisms that have been made of the theory, in particular, those in Maskin and Tirole (1998a). In doing so, we develop a model that provides a rigorous foundation for the idea that contracts are incomplete.
Author : Oliver Hart
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (476 download)
Download or read book Fundations of Incomplete Contracts written by Oliver Hart and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Philippe Aghion
Publisher : Oxford University Press
ISBN 13 : 0190259019
Total Pages : 224 pages
Book Rating : 4.1/5 (92 download)
Download or read book The Impact of Incomplete Contracts on Economics written by Philippe Aghion and published by Oxford University Press. This book was released on 2015-12-22 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.
Author : Sanford J. Grossman
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.F/5 ( download)
Download or read book The Costs and Benefits of Ownership written by Sanford J. Grossman and published by . This book was released on 1984 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Oliver Hart
Publisher : Clarendon Press
ISBN 13 : 0191521728
Total Pages : 244 pages
Book Rating : 4.1/5 (915 download)
Download or read book Firms, Contracts, and Financial Structure written by Oliver Hart and published by Clarendon Press. This book was released on 1995-10-05 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a framework for thinking about economic instiutions such as firms. The basic idea is that institutions arise in situations where people write incomplete contracts and where the allocation of power or control is therefore important. Power and control are not standard concepts in economic theory. The book begins by pointing out that traditional approaches cannot explain on the one hand why all transactions do not take place in one huge firm and on the other hand why firms matter at all. An incomplete contracting or property rights approach is then developed. It is argued that this approach can throw light on the boundaries of firms and on the meaning of asset ownership. In the remainder of the book, incomplete contacting ideas are applied to understand firms' financial decisions, in particular, the nature of debt and equity (why equity has votes and creditors have foreclosure rights); the capital structure decisions of public companies; optimal bankruptcy procedure; and the allocation of voting rights across a company's shares. The book is written in a fairly non-technical style and includes many examples. It is aimed at advanced undergraduate and graduate students, academic and business economists, and lawyers as well as those with an interest in corporate finance, privatization and regulation, and transitional issues in Eastern Europe, the former Soviet Union, and China. Little background knowledge is required, since the concepts are developed as the book progresses and the existing literature is fully reviewed.
Author : Steven Shavell
Publisher : Harvard University Press
ISBN 13 : 0674043499
Total Pages : 760 pages
Book Rating : 4.6/5 (74 download)
Download or read book Foundations of Economic Analysis of Law written by Steven Shavell and published by Harvard University Press. This book was released on 2009-07-01 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt: What effects do laws have? Do individuals drive more cautiously, clear ice from sidewalks more diligently, and commit fewer crimes because of the threat of legal sanctions? Do corporations pollute less, market safer products, and obey contracts to avoid suit? And given the effects of laws, which are socially best? Such questions about the influence and desirability of laws have been investigated by legal scholars and economists in a new, rigorous, and systematic manner since the 1970s. Their approach, which is called economic, is widely considered to be intellectually compelling and to have revolutionized thinking about the law. In this book Steven Shavell provides an in-depth analysis and synthesis of the economic approach to the building blocks of our legal system, namely, property law, tort law, contract law, and criminal law. He also examines the litigation process as well as welfare economics and morality. Aimed at a broad audience, this book requires neither a legal background nor technical economics or mathematics to understand it. Because of its breadth, analytical clarity, and general accessibility, it is likely to serve as a definitive work in the economic analysis of law.
Author : O. Hart
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (196 download)
Download or read book Incomplete Contracts and Renegotation written by O. Hart and published by . This book was released on 1985 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Oliver Simon D'Arcy HART
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book INCOMPLETE CONTRACTS AND THE THEORY OF THE FIRM written by Oliver Simon D'Arcy HART and published by . This book was released on 1987 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrew S. Gold
Publisher : OUP Oxford
ISBN 13 : 0191005290
Total Pages : 543 pages
Book Rating : 4.1/5 (91 download)
Download or read book Philosophical Foundations of Fiduciary Law written by Andrew S. Gold and published by OUP Oxford. This book was released on 2014-08-14 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiduciary law is a critically important body of law. Fiduciary duties ensure the integrity of a remarkable variety of relationships, institutions, and organizations. They apply to relationships of great personal significance, including in some jurisdictions the relationship between parents and children. They structure a wide variety of commercial relationships, and they are essential to the regulation of relationships between professional service providers and their clients, including relationships between lawyer and client, doctor and patient, and investment manager and client. Fiduciary duties, perhaps uniquely in private law, challenge traditional ways of marking the boundaries between private and public law, inasmuch as they figure prominently in public governance. Indeed, there is even a storied tradition of thinking of the authority of the state in fiduciary terms. Notwithstanding its importance, fiduciary law has been woefully under-analysed by legal theorists. Filling this gap with a series of chapters by leading theorists, this book includes chapters on: the nature of fiduciary relationships, the connection between fiduciary duties and morality, the content and significance of fiduciary loyalty, the economic significance of fiduciary law, the application of fiduciary principles to public law and international law, the import of fiduciary relationships to theories of authority, and various other fundamental topics in the field. In many cases, new and important questions are raised by the book's chapters. Indeed, this book not only offers a much-needed theoretical assessment of fiduciary topics, it defines the field going forward, setting an agenda for future philosophical study of fiduciary law.
Author : Eric Brousseau
Publisher : Cambridge University Press
ISBN 13 : 9780521893138
Total Pages : 604 pages
Book Rating : 4.8/5 (931 download)
Download or read book The Economics of Contracts written by Eric Brousseau and published by Cambridge University Press. This book was released on 2002-10-17 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: A 2002 survey of economics of contracts appealing to scholars in economics, management and law.
Author : Philippe Aghion
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.3/5 ( download)
Download or read book The Economics of Bankruptcy Reform written by Philippe Aghion and published by . This book was released on 1992 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a new bankruptcy procedure. Initially, a firm's debts are cancelled, and cash and non-cash bids are solicited for the 'new" (all-equity) firm. Former claimants are given shares, or options to buy shares, in the new firm on the basis of absolute priority. Options are exercised once the bids are in. Finally, a shareholder vote is taken to select one of the bids. In essence, our procedure is a variant on the U.S. Chapter 7, in which non-cash bids are possible; this allows for reorganization. We believe our scheme is superior to Chapter 11 since it is simpler, quicker, market-based, avoids conflicts, and places appropriate discipline on management.
Author : Daniel F. Spulber
Publisher : Cambridge University Press
ISBN 13 : 0521517389
Total Pages : 542 pages
Book Rating : 4.5/5 (215 download)
Download or read book The Theory of the Firm written by Daniel F. Spulber and published by Cambridge University Press. This book was released on 2009-04-13 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Theory of the Firm presents an innovative general analysis of the economics of the firm.
Author : Jos‰ Casas Pardo
Publisher : Edward Elgar Publishing
ISBN 13 : 9781847205285
Total Pages : 392 pages
Book Rating : 4.2/5 (52 download)
Download or read book Public Choice and the Challenges of Democracy written by Jos‰ Casas Pardo and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely and important volume addresses the serious challenges faced by democracy in contemporary society. With contributions from some of the world's most prestigious scholars of public choice and political science, this comprehensive collection p
Author : Birger Wernerfelt
Publisher : Cambridge University Press
ISBN 13 : 1316798917
Total Pages : 329 pages
Book Rating : 4.3/5 (167 download)
Download or read book Adaptation, Specialization, and the Theory of the Firm written by Birger Wernerfelt and published by Cambridge University Press. This book was released on 2016-10-27 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: This invaluable book provides the foundations for a new theory of the firm, drawing on Birger Wernerfelt's landmark work on economic theory and the resource-based view of the firm. It addresses a vigorous and long-standing academic debate over what exactly a 'firm' is, both in the field of management and economics. Wernerfelt revisits his classic articles, including an extensively revised 'A Resource-Based View of the Firm' (1984), which have been updated and synthesized to provide precise and accessible concepts and predictions. By offering future directions for research and practice, this book will be of interest to students and scholars of management and economics alike.
Author : Richard Holden
Publisher : Cambridge University Press
ISBN 13 : 100902017X
Total Pages : 94 pages
Book Rating : 4.0/5 (9 download)
Download or read book Can Blockchain Solve the Hold-up Problem in Contracts? written by Richard Holden and published by Cambridge University Press. This book was released on 2021-11-18 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: A vexing problem in contract law is modification. Two parties sign a contract but before they fully perform, they modify the contract. Should courts enforce the modified agreement? A private remedy is for the parties to write a contract that is robust to hold-up or that makes the facts relevant to modification verifiable. Provisions accomplishing these ends are renegotiation-design and revelation mechanisms. But implementing them requires commitment power. Conventional contract technologies to ensure commitment – liquidated damages – are disfavored by courts and themselves subject to renegotiation. Smart contracts written on blockchain ledgers offer a solution. We explain the basic economics and legal relevance of these technologies, and we argue that they can implement liquidated damages without courts. We address the hurdles courts may impose to use of smart contracts on blockchain and show that sophisticated parties' ex ante commitment to them may lead courts to allow their use as pre-commitment devices.
Author : Oliver E. Williamson
Publisher : Oxford University Press, USA
ISBN 13 : 9780195083569
Total Pages : 260 pages
Book Rating : 4.0/5 (835 download)
Download or read book The Nature of the Firm written by Oliver E. Williamson and published by Oxford University Press, USA. This book was released on 1993 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume features a series of essays which arose from a conference on economics, addressing the question: what is the nature of the firm in economic analysis? This paperback edition includes the Nobel Lecture of R.N. Case.
