The Impact of Incomplete Contracts on Economics

The Impact of Incomplete Contracts on Economics
Author :
Publisher : Oxford University Press
Total Pages : 224
Release :
ISBN-10 : 9780190259013
ISBN-13 : 0190259019
Rating : 4/5 (019 Downloads)

Book Synopsis The Impact of Incomplete Contracts on Economics by : Philippe Aghion

Download or read book The Impact of Incomplete Contracts on Economics written by Philippe Aghion and published by Oxford University Press. This book was released on 2015-12-22 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.


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