Relational Contracting, Repeated Negotiations, and Hold-Up
نویسندگان
چکیده
منابع مشابه
Relational Contracting, Repeated Negotiations, and Hold-Up∗
We propose a unified framework to study relational contracting and hold-up problems in infinite horizon stochastic games. We illustrate that with respect to long run decisions, the common formulation of relational contracts as Pareto-optimal public perfect equilibria is in stark contrast to fundamental assumptions of hold-up models. We develop a model in which relational contracts are repeatedl...
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We propose a unified framework to study relational contracting and hold-up problems in infinite horizon stochastic games. We first illustrate that with respect to long run decisions, the common formulation of relational contracts as Pareto-optimal public perfect equilibria is in stark contrast to fundamental assumptions of hold-up models. We develop a model in which relational contracts are rep...
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Article history: Received 24 February 2010 Available online 5 March 2012 JEL classification: C73 D82 L14 J30
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2013
ISSN: 1556-5068
DOI: 10.2139/ssrn.2210603