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  • The Impact of Incomplete Contracts on Economics

    The Impact of Incomplete Contracts on Economics by Aghion, Philippe; Dewatripont, Mathias; Legros, Patrick;

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    A termék adatai:

    • Kiadó OUP USA
    • Megjelenés dátuma 2016. február 18.

    • ISBN 9780199826223
    • Kötéstípus Keménykötés
    • Terjedelem440 oldal
    • Méret 165x248x34 mm
    • Súly 746 g
    • Nyelv angol
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    Rövid leírás:

    The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.

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    Hosszú leírás:

    The 1986 article by Grossman and Hart "A Theory of Vertical and Lateral Integration " has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling.

    The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession. It shows that the impact has been felt sometimes in significant ways in a variety of fields, ranging from the theory of the firm and their internal organization to industrial organization, international trade, finance, management, public economy, and political economy and political science. Beyond acknowledging how the property rights approach has permeated economics as a whole, the contributions in the book also highlight the road ahead---how the paradigm may change the way research is performed in some of the fields, and what type of research is still missing. The book concludes with a discussion of the foundations of the property rights, and more generally the incomplete contracting, approaches and with a series of contributions showing how behavioral considerations may provide a new way forward.

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    Tartalomjegyzék:

    PART 1: Perspectives on Grossman and Hart 1986
    (1) Introductory Remarks on Grossman and Hart, JPE, 1986
    John Moore (University of Edinburgh)
    (2) Grossman-Hart (1986) as a Theory of Markets
    Bengt Holmström (MIT)
    (3) Remarks on Incomplete Contracting
    Jean Tirole (Toulouse School of Economics)
    (4) Property Rights and Transaction Cost Theories
    Steven Tadelis (University of California-Berkeley and eBay Research Labs)
    (5) Grossman and Hart (1986) and Applied Theory
    Thomas Hubbard (Kellogg School of Management, Northwestern University)
    PART 2: Incomplete Contracts and Firm Boundaries
    (6) Incomplete Contracts and Firm Boundaries: New Directions
    Wouter Dessein (Columbia University)
    (7) Discussion of Wouter Dessein's "Incomplete Contracts and Firm Boundaries: New Directions "
    Francine Lafontaine (University of Michigan)
    (8) Comment on "Incomplete contracts and Firm Boundaries: New Directions " by Wouter Dessein
    Michael D. Whinston (MIT)
    PART 3: Incomplete Contracts and Internal Organization
    (9) Incomplete Contracts and the Internal Organization of Firms
    Phillipe Aghion (Harvard University), Nicholas Bloom (Stanford University), John Van Reenen (London School of Economics)
    (10) Comments on Aghion, Bloom and Van Reenen "Incomplete Contracts and the Internal Organization of Firms, " P.
    John Roberts (Stanford University)
    (11) The Empirical Implications of the Grossman-Hart Model: Comments on "Incomplete Contracts an the Internal Organization of Firms, " by P. Aghion, N. Bloom and J. Van Reenen
    W. Bentley McLeod (Columbia University)
    PART 4: Incomplete Contracts and Corporate Finance
    (12) Corporate Finance, Incomplete Contracts, and Corporate Control
    Patrick Bolton (Columbia University)
    (13) Discussion of Patrick Bolton's "Corporate Finance, Incomplete Contracts, and Corporate Control "
    Efraim Benmelech (Kellogg School of Management, Northwestern University)
    (14) Why Incomplete Contract is Important for Finance
    Luigi Zingales (The University of Chicago Booth School of Business)
    PART 5: Incomplete Contracts and Business Firms
    (15) Oliver Hart's Contributions to the Understanding of Strategic Alliances and Technology Licensing
    Josh Lerner (Harvard University)
    (16) Incomplete Contracts and Venture Capital
    Steve Kaplan (The University of Chicago Booth School of Business)
    (17) Incomplete Contracts and the Role of Small Firms
    Jeremy C. Stein (Harvard University)
    PART 6: Incomplete Contracts and Industrial Organization
    (18) Contracts, Ownership and Industrial Organization: Past and Future
    Patrick Legros (Université libre de Bruxelles) and Andrew F. Newman (Boston University)
    (19) Discussion of "Contracts, Ownership and Industrial Organization: Past and Future ", by Patrick Legros and Andrew Newman
    Mathias Dewatripont (Université libre de Bruxelles and National Bank of Belgium)
    (20) Discussion of "Contracts, Ownership and Industrial Organization: Past and Future ", by Patrick Legros and Andrew Newman
    Kai-Uwe Kühn (University of Michigan)
    PART 7: Incomplete Contracts and International Trade
    (21) Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production
    Pol Antr?s (Harvard University)
    (22) Comment on Pol Antr?s: "Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production "
    Elhanan Helpman (Harvard University)
    (23) The Theory of the Firm Goes Global
    Dalia Marin (University of Munich)
    PART 8: Incomplete Contracts and Public Ownership
    (24) Incomplete Contracts and Not for Profit Firms
    Paul Grout (University of Bristol)
    (25) Firm Ownership: The Legacy of Grossman and Hart
    Henry Hansmann (Yale Law School)
    (26) Ex-Ante Anonymity and Government Allocation of Property Rights
    Rohan Pitchford (Australian National University)
    PART 9: Incomplete Contracts and Political Economy
    (27) International Treaties as Incomplete Contracts
    B?rd Harstad (University of Oslo)
    (28) Incomplete Contracts and Political Economy
    Gerard Roland (University of Berkeley)
    (29) Incomplete Contracts and the Design of Constitutions
    Guido Tabellini (Bocconi University)
    PART 10: Incomplete Contracts, Mechanism Design and Complexity
    (30) Comments on the Foundations of Incomplete Contracts
    Eric Maskin (Harvard University)
    (31) Comments on the Foundations of Incomplete Contracts
    John Moore (University of Edinburgh)
    (32) Incomplete Contracts and Mechanism Design
    Richard Holden (University of New South Wales)
    (33) Complexity and Undescribability
    Nabil I. Al-Najjar (Nothwestern University), Luca Anderlini (Georgetown University), and Leonardo Felli (London School of Economics)
    PART 11: Incomplete Contracts, Reference Points and Communication
    (34) New Directions of Incomplete Contracts: Reference Points, Communication, and Renegotiation
    Christian Zehnder (University of Lausanne)
    (35) Some Recent Experimental Evidence on Contracts as Reference Points
    Klaus Schmidt (University of Munich)
    (36) Incomplete Contracting in the Field
    Antoinette Schoar (Harvard University)

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