Markets Contracts And Firms

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Firms, Contracts, and Financial Structure

Author : Oliver Hart
Publisher : Clarendon Press
ISBN 13 : 0191521728
Total Pages : 244 pages
Book Rating : 4.1/5 (915 download)

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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.

Markets, Contracts and Firms

Author : Piergiovanna Natale
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (61 download)

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Book Synopsis Markets, Contracts and Firms by : Piergiovanna Natale

Download or read book Markets, Contracts and Firms written by Piergiovanna Natale and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Global Production

Author : Pol Antràs
Publisher : Princeton University Press
ISBN 13 : 0691209030
Total Pages : 336 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Global Production by : Pol Antràs

Download or read book Global Production written by Pol Antràs and published by Princeton University Press. This book was released on 2020-10-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Production is the first book to provide a fully comprehensive overview of the complicated issues facing multinational companies and their global sourcing strategies. Few international trade transactions today are based on the exchange of finished goods; rather, the majority of transactions are dominated by sales of individual components and intermediary services. Many firms organize global production around offshoring parts, components, and services to producers in distant countries, and contracts are drawn up specific to the parties and distinct legal systems involved. Pol Antràs examines the contractual frictions that arise in the international system of production and how these frictions influence the world economy. Antràs discusses the inevitable complications that develop in contract negotiation and execution. He provides a unified framework that sheds light on the factors helping global firms determine production locations and other organizational choices. Antràs also implements a series of systematic empirical tests, based on recent data from the U.S. Customs and Census Offices, which demonstrate the relevance of contractual factors in global production decisions. Using an integrated approach, Global Production is an excellent resource for researchers, graduate students, and advanced undergraduates interested in the inner workings of international economics and trade.

Firms, contracts and markets

Author : Josep Tribó Giné
Publisher :
ISBN 13 :
Total Pages : 137 pages
Book Rating : 4.:/5 (87 download)

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Book Synopsis Firms, contracts and markets by : Josep Tribó Giné

Download or read book Firms, contracts and markets written by Josep Tribó Giné and published by . This book was released on 1997 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Firms, Markets, and Contracts

Author : Ekkehart Schlicht
Publisher :
ISBN 13 : 9783642469893
Total Pages : 308 pages
Book Rating : 4.4/5 (698 download)

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Book Synopsis Firms, Markets, and Contracts by : Ekkehart Schlicht

Download or read book Firms, Markets, and Contracts written by Ekkehart Schlicht and published by . This book was released on 1996-08-16 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A New Swing-Contract Design for Wholesale Power Markets

Author :
Publisher : John Wiley & Sons
ISBN 13 : 1119670144
Total Pages : 288 pages
Book Rating : 4.1/5 (196 download)

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Book Synopsis A New Swing-Contract Design for Wholesale Power Markets by :

Download or read book A New Swing-Contract Design for Wholesale Power Markets written by and published by John Wiley & Sons. This book was released on 2020-12-12 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides comprehensive information on swing contracts for flexible reserve provision in wholesale power markets This book promotes a linked swing-contract market design for centrally-managed wholesale power markets to facilitate increased reliance on renewable energy resources and demand-side participation. The proposed swing contracts are firm or option two-part pricing contracts permitting resources to offer the future availability of dispatchable power paths (reserve) with broad types of flexibility in their power attributes. A New Swing-Contract Design for Wholesale Power Markets begins with a brief introduction to the subject, followed by two chapters that cover: general goals for wholesale power market design; history, operations, and conceptual concerns for current U.S. RTO/ISO-managed wholesale power markets; and the relationship of the present study to previous swing-contract research. The next eight chapters cover: a general swing-contract formulation for centrally-managed wholesale power markets; illustrative swing-contract reserve offers; inclusion of reserve offers with price swing; inclusion of price-sensitive reserve bids; and extension to a linked collection of swing-contract markets. Operations in current U.S. RTO/ISO-managed markets are reviewed in the following four chapters, and conceptual and practical advantages of the linked swing-contract market design are carefully considered. The book concludes with an examination of two key issues: How might current U.S. RTO/ISO-managed markets transition gradually to a swing-contract form? And how might independent distribution system operators, functioning as linkage entities at transmission and distribution system interfaces, make use of swing contracts to facilitate their participation in wholesale power markets as providers of ancillary services harnessed from distribution-side resources? In summary, this title: Addresses problems with current wholesale electric power markets by developing a new swing-contract market design from concept to practical implementation Provides introductory chapters that explain the general principles motivating the new market design, hence why a new approach is required Develops a new type of swing contract suitable for wholesale power markets with increasing reliance on renewable energy and active demand-side participation A New Swing-Contract Design for Wholesale Power Markets is an ideal book for electric power system professionals and for students specializing in electric power systems.

The Theory of the Firm

Author : Daniel F. Spulber
Publisher : Cambridge University Press
ISBN 13 : 0521517389
Total Pages : 542 pages
Book Rating : 4.5/5 (215 download)

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Book Synopsis The Theory of the Firm by : Daniel F. Spulber

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.

Firms, Markets, and Contracts

Author : Arnold Picot
Publisher : Physica
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Firms, Markets, and Contracts by : Arnold Picot

Download or read book Firms, Markets, and Contracts written by Arnold Picot and published by Physica. This book was released on 1996-08-16 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays on contract theory offer new results centering around the theory of the firm. Issues of ownership, integration, delegation, and finance are analyzed. Further, topics of medical care, the economics of crime, the environment, and international trade are treated from a contracting perspective. The authors are leading young economists who have worked at the "International Summer School on the New Institutional Economics".

Firms Markets and Efficiency

Author : Eitan Goldman
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Firms Markets and Efficiency by : Eitan Goldman

Download or read book Firms Markets and Efficiency written by Eitan Goldman and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: If the price system is superior to central planning, why do firms exist with sub-economies that are very large, approximating small capitalist economies? In a principal-agent setting we compare a market, in which two principal-agent pairs trade, to a corporation in which a single principal hires both agents. In a market principals motivate their agents to make efforts by writing contracts contingent on observed prices, some of which are negotiated between the agents themselves. These prices may be informative, allowing principals to induce high effort at a lower cost. But, principals in different firms cannot coordinate their contract choices since each lacks authority over the other's agent. Authority over both agents' efforts occurs when a corporation is formed, where one principal contracts directly with both agents, a sub-economy. Information from market prices is then lost and cannot be replicated by internally generated "transfer prices." Whether a market or a firm is optimal is determined by the relative value of managerial authority over agents (the "visible" hand) versus information from market prices (the "invisible" hand).

The Economic Institutions of Capitalism

Author : Oliver E. Williamson
Publisher :
ISBN 13 :
Total Pages : 466 pages
Book Rating : 4.3/5 (97 download)

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Book Synopsis The Economic Institutions of Capitalism by : Oliver E. Williamson

Download or read book The Economic Institutions of Capitalism written by Oliver E. Williamson and published by . This book was released on 1987 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sequel to Markets and Hierarchies develops and extends Williamson's innovative use of transaction cost economics as an approach to studying economic organization by applying it to work and labour as well as to the corporation itself. In addition, Williamson explores its growing implications for public policy, including its potential influence on antitrust and merger guidelines, labour policy, and SEC and public utility regulations.

The Firm, the Market, and the Law

Author : R. H. Coase
Publisher : University of Chicago Press
ISBN 13 : 022605120X
Total Pages : 226 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Firm, the Market, and the Law by : R. H. Coase

Download or read book The Firm, the Market, and the Law written by R. H. Coase and published by University of Chicago Press. This book was released on 2012-06-15 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, "most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject." Coase's particular interest has been that part of economic theory that deals with firms, industries, and markets—what is known as price theory or microeconomics. He has always urged his fellow economists to examine the foundations on which their theory exists, and this volume collects some of his classic articles probing those very foundations. "The Nature of the Firm" (1937) introduced the then-revolutionary concept of transaction costs into economic theory. "The Problem of Social Cost" (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics. "These essays bear rereading. Coase's careful attention to actual institutions not only offers deep insight into economics but also provides the best argument for Coase's methodological position. The clarity of the exposition and the elegance of the style also make them a pleasure to read and a model worthy of emulation."—Lewis A. Kornhauser, Journal of Economic Literature Ronald H. Coase was awarded the Nobel Prize in Economic Science in 1991.

What We Owe Each Other

Author : Minouche Shafik
Publisher : Princeton University Press
ISBN 13 : 069120764X
Total Pages : 256 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis What We Owe Each Other by : Minouche Shafik

Download or read book What We Owe Each Other written by Minouche Shafik and published by Princeton University Press. This book was released on 2022-08-23 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together.

Firms and Markets

Author : K. Tucker
Publisher : Routledge
ISBN 13 : 1351239643
Total Pages : 361 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Firms and Markets by : K. Tucker

Download or read book Firms and Markets written by K. Tucker and published by Routledge. This book was released on 2018-01-12 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial and business economics is a very important field with a great deal of relevance to the commercial world and to business studies students as well as to economists. It is a rapidly developing field in which many new research advances have been made in recent years. This book, first published in 1986, considers many aspects of both the theory of and the evidence on economic behaviour, and in particular the operations of firms and markets. The book was written in honour of Basil Yamey by his former research students.

Firms, Markets, and Contracts

Author : Ekkehart Schlicht
Publisher : Springer Science & Business Media
ISBN 13 : 3642469884
Total Pages : 306 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis Firms, Markets, and Contracts by : Ekkehart Schlicht

Download or read book Firms, Markets, and Contracts written by Ekkehart Schlicht and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern institutional economics witnesses a merging of formal and informal strands of theorizing. This development has offered new and vigorous perspectives which avoid both arbitrariness and theoretical sterility. The essays on contract theory gathered here exemplify this development. They propone new results on central issues in contractual theorizing. The theory of the firm in its variegated aspects forms, naturally, the core of the present set of contributions. Issues of ownership, integration, delegation, and finan ce are analyzed. Some contributions use the theoretical approach of contract theory to explore other issues, like medical care, public good problems, the economics of crime, environmental economics, and international trade. The contributors are leading young economists. They have participated in one or se veral classes of the 'International Summer School on the New Institutional Economics' which has been organized by Rudolf Richter in the years 1988 through 1994 and is now continued by Urs Schweizer. The theoretical style of these contributions has been influ enced by this experience. This collection of essays is intended to express the thanks of the contributors to Rudolf Richter. His initiatives for scholarly instruction and for inter national exchange of ideas have helped to create and to diffuse the understanding of and the engagement for the new institutional economics in Europe.

The Nature of the Firm

Author : Oliver E. Williamson
Publisher : Oxford University Press, USA
ISBN 13 : 9780195083569
Total Pages : 260 pages
Book Rating : 4.0/5 (835 download)

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Book Synopsis The Nature of the Firm by : Oliver E. Williamson

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.

Chinese Firms Between Hierarchy and Market

Author : Derong Chen
Publisher : Palgrave Macmillan
ISBN 13 : 9780312122218
Total Pages : 225 pages
Book Rating : 4.1/5 (222 download)

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Book Synopsis Chinese Firms Between Hierarchy and Market by : Derong Chen

Download or read book Chinese Firms Between Hierarchy and Market written by Derong Chen and published by Palgrave Macmillan. This book was released on 1995 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the enterprise reform in China in general, and the Contract Management Responsibility System (CMRS) in particular. The latter is an institutional arrangement to deal with the relation between the government and the state-owned enterprise which has always been at the centre of the enterprise reform. This book is based on four in-depth case-studies and reveals the interaction taking place between the government and enterprise under the system. The research shows that to establish a market-type relation between the government and enterprise is a complicated and dynamic process. It involves understanding two different economic mechanisms, market and hierarchy, and the interactions taken by two parties. Drawing on empirical work, the CMRS is examined from an institutional perspective and provides a holistic view of the changes in Chinese enterprises.

Boilerplate

Author : Omri Ben-Shahar
Publisher : Cambridge University Press
ISBN 13 : 9780521859189
Total Pages : 256 pages
Book Rating : 4.8/5 (591 download)

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Book Synopsis Boilerplate by : Omri Ben-Shahar

Download or read book Boilerplate written by Omri Ben-Shahar and published by Cambridge University Press. This book was released on 2007-05-21 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about the fine print in contracts: the terms that individuals sign without reading when they click “I agree” or buy a plane ticket or engage in any common market transaction. The book explores the relation between this phenomenon and the ideal of consensual contracts. It identifies problems that the unreadable language creates and how this affects the welfare of individuals. It reveals what it is that we truly agree to when we accept these mass-distributed contracts. And it explains how business uses these contracts to gain advantages, but also, in a variety of subtle ways, to improve competition.