منابع مشابه
A Dynamic Theory of Holdup
The holdup problem arises when parties negotiate to divide the surplus generated by their relationship specific investments. We study this problem in a dynamic model of bargaining and investment which, unlike the stylized static model, allows the parties to continue to invest until they agree on the terms of trade. The investment dynamics overturns the conventional wisdom dramatically. First, t...
متن کاملDynamic Correlation between Oil Markets and Financial Markets and Oil and Petrochemical Industries in Iran
In this paper we study the effect of volatility in Brent oil prices on the important indices of financial markets in Iran, as well as the return on gold, from 2008 to 2018 using the Multivariate Exponential GARCH Model (MVEGARCH). We also use the ADCC-FIGARCH model to examine the asymmetric dynamic conditional correlation between Brent oil prices and financial markets in Iran. The results of th...
متن کاملContractual Remedies to the Holdup Problem: A Dynamic Perspective
An important theme of modern contract theory is the role contracts play to protect parties from the risk of holdup and thereby encouraging their relationship specific investments. While this perspective has generated valuable insights about various contracts, the underlying models abstract from realistic investment dynamics. We reexamine the role of contracts in a dynamic model that endogenizes...
متن کاملBargaining in dynamic markets
Article history: Received 15 June 2015 Available online 21 March 2017 JEL classification: C78 D40
متن کاملHoldup in oligopsonistic labour markets - a new role for the minimum wage
Holdup in Oligopsonistic Labour Markets: A New Role for the Minimum Wage We consider a labour market model of oligopsonistic wage competition and show that there is a holdup problem although workers do not have any bargaining power. When a firm invests more, it pays a higher wage in order to attract workers from competitors. Because workers participate in the returns on investment while only fi...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2018
ISSN: 1556-5068
DOI: 10.2139/ssrn.3218411