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| Tekijä: | Che, Y.-K. Hausch, D. |
| Otsikko: | Cooperative investments and the value of contracting |
| Lehti: | American Economic Review
1999 : MAR, VOL. 89:1, p. 125-147 |
| Asiasana: | ECONOMICS INVESTMENT CONTRACTS |
| Kieli: | eng |
| Tiivistelmä: | Recent articles have shown that contracts can support the efficient outcome for bilateral trade, even in the face of specific investments and incomplete contracting. These studies typically considered "selfish" investments that benefit the investor (e.g., the seller's investment reduces her production costs). The authors find very different results for "cooperative" investments that directly benefit the investor's partner (e.g., the seller's investment improves the buyer's value of the good). |
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