Noncontractible Investments and Reference Points
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چکیده
منابع مشابه
Noncontractible Investments and Reference Points
We analyze noncontractible investments in a model with shading. A seller can make an investment that affects a buyer’s value. The parties have outside options that depend on asset ownership. When shading is not possible and there is no contract renegotiation, an optimum can be achieved by giving the seller the right to make a take-it-or-leave-it offer. However, with shading, such a contract cre...
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ژورنال
عنوان ژورنال: Games
سال: 2013
ISSN: 2073-4336
DOI: 10.3390/g4030437