Hart, Oliver and Moore, John (1998) Foundations of incomplete contracts. TE (358). Suntory and Toyota International Centres for Economics and Related Disciplines, London, UK.
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Abstract
In the last few years, a new area 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 we evaluate some of the criticisms that have been made of the theory, in particular, those in Maskin and Tirole (1998a). In doing so, we develop a model that provides a rigorous foundation for the idea that contracts are incomplete.
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://sticerd.lse.ac.uk |
| Additional Information: | © 1998 the authors |
| Divisions: | Financial Markets Group Economics STICERD |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor |
| JEL classification: | D - Microeconomics > D2 - Production and Organizations > D23 - Organizational Behavior; Transaction Costs; Property Rights |
| Date Deposited: | 14 Jul 2008 10:17 |
| Last Modified: | 13 Sep 2024 19:39 |
| URI: | http://eprints.lse.ac.uk/id/eprint/19354 |
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