Fairness and the Optimal Allocation of Ownership Rights
نویسندگان
چکیده
منابع مشابه
Fairness and the Optimal Allocation of Ownership Rights*
We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationshipspecific investments and that subjects attain the most efficient ownership allocation despite starting from different initial conditions. However, in contrast to the property rights approach, the most eff...
متن کاملOptimal allocation of ownership rights in dynamic R&D alliances
We explore the dynamic evolution of property rights regimes in R&D alliances using the incomplete contract approach pioneered by Grossman, Hart, and Moore. In contrast to the standard analysis, the productive asset is an excludable public good such as a patent. Moreover, both firms can decide whether to disclose their know-how and invest effort. Know-how that has once been released cannot be co...
متن کاملControl vs. Incentive—the Optimal Allocation of Ownership
The paper first differentiates “control” and “incentive”. Then it shows that integration in which the principal gets ownership of the physical assets necessary for the agent to create values enhances control of the principal over the agent’s human capital and thus improve coordination ex post, but that reduces the agent’s ex ante incentive to make human capital investment and ex post incentive ...
متن کاملa benchmarking approach to optimal asset allocation for insurers and pension funds
uncertainty in the financial market will be driven by underlying brownian motions, while the assets are assumed to be general stochastic processes adapted to the filtration of the brownian motions. the goal of this study is to calculate the accumulated wealth in order to optimize the expected terminal value using a suitable utility function. this thesis introduced the lim-wong’s benchmark fun...
15 صفحه اولThe Optimal Allocation of Iran's Natural Gas
T he optimal allocation of natural gas resources to various uses such as final and intermediate consumption, injection into oil fields, and exports can help policymakers to use this kind of resources efficiently. Empirical evidence support using hyperbolic discount rates instead of fixed discount rates in the economic literature. The purpose of this study is to maximize the social we...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Economic Journal
سال: 2008
ISSN: 0013-0133,1468-0297
DOI: 10.1111/j.1468-0297.2008.02169.x