Asymmetric information and the property rights approach to the theory of the firm

DOI10.1016/J.ECONLET.2017.07.026zbMath1396.91349OpenAlexW2741749699MaRDI QIDQ1782397

Patrick W. Schmitz

Publication date: 20 September 2018

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2017.07.026

zbMATH Keywords

incomplete contractsprivate informationproperty rightsinvestment incentivesrelationship specificity

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38)

Related Items (4)

Completely relationship-specific investments, transaction costs, and the property rights theory ⋮ On the optimality of outsourcing when vertical integration can mitigate information asymmetries ⋮ Moral hazard and the property rights approach to the theory of the firm ⋮ \textit{Ex ante} investment, \textit{ex post} adaptation, and joint ownership

Cites Work

• Efficient mechanisms for bilateral trading
• A formal model of firm boundaries and haggling
• Status quo bias in bargaining: an extension of the Myerson-Satterthwaite theorem with an application to the Coase theorem.
• Investments as signals of outside options
• Foundations of Incomplete Contracts

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