Formal Contracts, Relational Contracts, and the Threat-Point Effect
نویسندگان
چکیده
منابع مشابه
Formal Contracts, Relational Contracts, and the Threat-Point Effect
Can formal contracts help resolving the holdup problem? We address this important question by studying the holdup problem in repeated transactions between a seller and a buyer in which the seller can make relation-specific investments in each period. In contrast to previous findings, we demonstrate that writing a simple fixed-price contract based on product delivery is of value even when relati...
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ژورنال
عنوان ژورنال: American Economic Journal: Microeconomics
سال: 2015
ISSN: 1945-7669,1945-7685
DOI: 10.1257/mic.20130111