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Incomplete Contracts And Investment
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Book Synopsis Incomplete International Investment Agreements by : Park, Tae J.
Download or read book Incomplete International Investment Agreements written by Park, Tae J. and published by Edward Elgar Publishing. This book was released on 2022-03-15 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book is a comprehensive analysis of incomplete International Investment Agreements (IIAs), featuring insights from negotiating experiences in a number of bilateral and multilateral investment treaties. It examines problems, causes, and solutions surrounding this phenomenon by employing incomplete contract theory, and opens new avenues in discussing how to correct incomplete IIAs.
Author :Tai-Yeong Chung Publisher :London : Department of Economics, University of Western Ontario ISBN 13 : Total Pages :36 pages Book Rating :4.:/5 (318 download)
Book Synopsis Risk Sharing, Specific Investment and Incomplete Contracts by : Tai-Yeong Chung
Download or read book Risk Sharing, Specific Investment and Incomplete Contracts written by Tai-Yeong Chung and published by London : Department of Economics, University of Western Ontario. This book was released on 1990 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Impact of Incomplete Contracts on Economics by : Philippe Aghion
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.
Book Synopsis Property Rights, Incomplete Contracts, and Social Harm by : Rohan Pitchford
Download or read book Property Rights, Incomplete Contracts, and Social Harm written by Rohan Pitchford and published by . This book was released on 1999 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Incomplete Contracts and Investment by : Hanan Jacoby
Download or read book Incomplete Contracts and Investment written by Hanan Jacoby and published by World Bank Publications. This book was released on 2006 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: When contracts are incomplete, relationship-specific investments may be underprovided due to the threat of opportunistic expropriation or holdup. The authors find evidence of such underinvestment on tenanted land in rural Pakistan. Using data from households cultivating multiple plots under different tenure arrangements, they show that land-specific investment is lower on leased plots. This result is robust to the possible effects of asymmetric information in the leasing market. Greater tenure security also increases land-specific investment on leased plots. Moreover, variation in tenure security appears to be driven largely by heterogeneity across landlords, suggesting that reputation may be important in mitigating the holdup problem.
Book Synopsis Allocation, Information and Markets by : John Eatwell
Download or read book Allocation, Information and Markets written by John Eatwell and published by Springer. This book was released on 1989-09-21 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.
Book Synopsis Foundations of Incomplete Contracts by : Oliver D. Hart
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.
Book Synopsis Firms, Contracts, and Financial Structure by : Oliver Hart
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.
Book Synopsis Investment Incentives Under Asymmetric Information and Incomplete Contracts by : Patrick Schmitz
Download or read book Investment Incentives Under Asymmetric Information and Incomplete Contracts written by Patrick Schmitz and published by . This book was released on 1999-01-01 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :William Bentley MacLeod Publisher :Université de Montréal, Centre de recherche et développement en économique ISBN 13 : Total Pages :58 pages Book Rating :4.3/5 ( download)
Book Synopsis Investments, Hold Up and the Form of Market Contracts by : William Bentley MacLeod
Download or read book Investments, Hold Up and the Form of Market Contracts written by William Bentley MacLeod and published by Université de Montréal, Centre de recherche et développement en économique. This book was released on 1991 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Firms, Contracts, and Financial Structure by : Oliver Hart
Download or read book Firms, Contracts, and Financial Structure written by Oliver Hart and published by Oxford University Press on Demand. This book was released on 1995-10-05 with total page 239 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 handwhy 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 understandfirms' 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 aninterest 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.
Book Synopsis Incomplete International Investment Agreements by : Tae J. Park
Download or read book Incomplete International Investment Agreements written by Tae J. Park and published by Edward Elgar Publishing. This book was released on 2022-03-28 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book is a comprehensive analysis of incomplete International Investment Agreements (IIAs), featuring insights from negotiating experiences in a number of bilateral and multilateral investment treaties. It examines problems, causes, and solutions surrounding this phenomenon by employing incomplete contract theory and opens new avenues in discussing how to correct incomplete IIAs. Throughout the book, the author challenges the fundamental assumption that most IIAs are concluded in a complete manner and emphasizes the importance of accounting for the fact that IIAs are often concluded without significant investment protection articles and are subject to renegotiation. Park applies various interdisciplinary approaches, including incomplete contract theory and development theory, to illustrate how countries easily postpone their treaty negotiations and are willing to renegotiate to remedy incomplete IIAs. Furthermore, he depicts the reality of treaty negotiation in recent years, helping readers to understand how countries are failing to negotiate complete IIAs and how utilizing an economics approach could analyse and resolve this issue. Offering a useful and practical contribution to the discussion on the resolution of incomplete IIAs, this book will be key reading for academics and researchers within the fields of commercial law, international economic law, trade law and international investment law. It is also a must-read book for both government officers and investment treaty lawyers in all countries involved with Free Trade Agreements.
Book Synopsis Incomplete Contracts and Investment by : Hanan G. Jacoby
Download or read book Incomplete Contracts and Investment written by Hanan G. Jacoby and published by . This book was released on 2016 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: When contracts are incomplete, relationship-specific investments may be underprovided due to the threat of opportunistic expropriation or holdup. The authors find evidence of such underinvestment on tenanted land in rural Pakistan. Using data from households cultivating multiple plots under different tenure arrangements, they show that land-specific investment is lower on leased plots. This result is robust to the possible effects of asymmetric information in the leasing market. Greater tenure security also increases land-specific investment on leased plots. Moreover, variation in tenure security appears to be driven largely by heterogeneity across landlords, suggesting that reputation may be important in mitigating the holdup problem.
Book Synopsis Incomplete Contracts and Investment by : Hanan G. Jacoby
Download or read book Incomplete Contracts and Investment written by Hanan G. Jacoby and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: When contracts are incomplete, relationship-specific investments may be underprovided due to the threat of opportunistic expropriation or holdup. The authors find evidence of such underinvestment on tenanted land in rural Pakistan. Using data from households cultivating multiple plots under different tenure arrangements, they show that land-specific investment is lower on leased plots. This result is robust to the possible effects of asymmetric information in the leasing market. Greater tenure security also increases land-specific investment on leased plots. Moreover, variation in tenure security appears to be driven largely by heterogeneity across landlords, suggesting that reputation may be important in mitigating the holdup problem.
Book Synopsis Privatization and Restructuring by : Mr.Dieter Bös
Download or read book Privatization and Restructuring written by Mr.Dieter Bös and published by International Monetary Fund. This book was released on 1996-09-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since an enterprise, which is to be privatized, has to be restructured in uncertainty, and the restructuring investments are sunk when the final decision on the sale price is taken, there is an imminent danger that restructuring is not efficient, and there is underinvestment. We consider, restructuring by the private buyer of the firm, by a government privatization agency, and by both. In the first two cases—one-sided restructuring—a first best can be achieved. In the case of both-sided restructuring, however, the first best cannot be reached if both parties engage in restructuring after signing the contract.
Book Synopsis Economic Analysis of Contract Law by : Sugata Bag
Download or read book Economic Analysis of Contract Law written by Sugata Bag and published by Springer. This book was released on 2018-01-24 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the main issues arising in economic analysis of contract law with special attention given to the incomplete contracts. It discusses both the main features of contract law as they relate to the problem of economic exchange, and how the relevant legal rules and the institutions can be analysed from an economic perspective. Evaluate the welfare impacts, analyses the effects and the desirability of different breach remedies and examines the optimal incentive structure of party-designed liquidated damages under the different dimensions of informational asymmetry. Overall the book aims to contribute to the legal debate over the adoption of the specific breach remedies when the breach victim’s expectation interest is difficult to assess, and to the debate over courts' reluctance to implement large penalties in the event of breach of contracts.
Book Synopsis Labor Unions and the Economic Performance of Firms by : Barry T. Hirsch
Download or read book Labor Unions and the Economic Performance of Firms written by Barry T. Hirsch and published by . This book was released on 1991 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compares data collected in a 1987 and 1988 survey of about 450 enterprises, with similar data for 1972 and 1977, and concludes that companies with extensive unionisation had lower rates of profit, market value and investment than similar non-union firms.
