The Impact of Incomplete Contracts on Economics

By: Philippe Aghion (Editor), Mathias Dewatripont (Editor), Patrick Legros (Editor), Luigi Zingales (Editor)

Write A Review

Paperback | 10 March 2016

At a Glance

Paperback
432 Pages

Dimensions(cm)
23.39 x 15.6 x 2.46

Paperback

RRP $127.95

$80.25

37%OFF

or 4 interest-free payments of $20.06 with

Aims to ship in 5 to 10 business days

The 1986 article by Grossman and Hart "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. It shows that the impact has been felt sometimes in significant ways in a variety of fields, ranging from the theory of the firm and their internal organization to industrial organization, international trade, finance, management, public economy, and political economy and political science. Beyond acknowledging how the property rights approach has permeated economics as a whole, the contributions in the book also highlight the road ahead---how the paradigm may change the way research is performed in some of the fields, and what type of research is still missing. The book concludes with a discussion of the foundations of the property rights, and more generally the incomplete contracting, approaches and with a series of contributions showing how behavioral considerations may provide a new way forward.

Industry Reviews

"The contributions in this collection constitute a most worthy celebration of Grossman and Hart's classic paper on incomplete contracting and its deep and wide-ranging impact on economics and beyond." -- Bengt Holmstrom, Paul A. Samuelson Professor of Economics, M.I.T "The Grossman -Hart incomplete contracts approach represents perhaps the most influential advance in economic theory in the last 30 years. This book assembles many of the remarkable offspring of this truly seminal contribution." -- Andrei Shleifer, Professor of Economics, Harvard University

Shipping

	Standard Shipping	Express Shipping
Metro postcodes:	$9.99	$14.95
Regional postcodes:	$9.99	$14.95
Rural postcodes:	$9.99	$14.95

How to return your order

At Booktopia, we offer hassle-free returns in accordance with our returns policy. If you wish to return an item, please get in touch with Booktopia Customer Care.

Additional postage charges may be applicable.