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| Tekijä: | Chi, T. |
| Otsikko: | Performance verifiability and output sharing in collaborative ventures |
| Lehti: | Management Science
1996 : JAN, VOL. 42:1, p. 93-109 |
| Asiasana: | MANAGEMENT JOINT BUSINESS VENTURES TRANSACTION COSTS |
| Kieli: | eng |
| Tiivistelmä: | This paper studies the problem of contracting between two firms when they try to exploit their complementary resources in a collaborative venture (CV), but their performance in the CV cannot be precisely verified by the other party or by a third-party arbiter. Using a mathematical model that treats performance verifiability as a continuous variable, the paper first establishes that a party whose performance cannot be perfectly verified has an incentive to shirk if it is paid only a fee and that this shirking problem is more severe as its performance is less verifiable. |
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