Detail Renegotiation and The Efficiency of Investments   Oleh:  Holden, Steinar Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 30 no. 1 (1999), page 106-119. Topik: negotiation skills; renegotiation; efficiency; investments Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel In a long - term relationship between two parties, one party's threat of a unilateral violation of an initial contract may induce a renegotiation of the contract. As a renegotiation may result in one party capturing some of the return from the other's investments, this possibility may lead to underinvestment. I show that if there is uncertainty associated with the outcome of a renegotiation, and if players are risk averse, there will be an interval for the initial contract so that it is not renegotiated. By an appropriate choice of the initial contract, underinvestment can thus be avoided. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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