haku: @author Hart, O. / yhteensä: 5
viite: 3 / 5
| Tekijä: | Hart, O. Moore, J. |
| Otsikko: | Foundations of incomplete contracts |
| Lehti: | Review of Economic Studies
1999 : JAN, VOL. 66:1(226), p. 115-138 |
| Asiasana: | ECONOMICS FOUNDATIONS CONTRACTS |
| Kieli: | eng |
| Tiivistelmä: | In the last few years, a new are has emerged in economic theory, which goes under the heading of "incomplete contracting". However, almost since its inception, the theory has been under attack for its lack of rigorous foundations. In this paper, the authors evaluate some of the criticisms that have been made of the theory, in particular, those in Maskin and Tirole (1999a). In doing so, the authors develop a model that provides a rigorous foundation for the idea that contracts are incomplete. |
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