The economics of contracts : theories and applications / edited by Eric Brousseau and Jean-Michel Glachant.
A contract is an agreement under which two parties make reciprocal commitments in terms of their behavior to coordinate. As this concept has become essential to economics in the last 30 years, three main theoretical frameworks have emerged: 'incentive theory', 'incomplete-contract the...
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| Other Authors: | , |
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| Format: | Ebook |
| Language: | English French |
| Published: |
Cambridge ; New York :
Cambridge University Press,
2002.
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| Subjects: | |
| Online Access: | Cambridge Books on Core Sample text Contributor biographical information |
| Summary: | A contract is an agreement under which two parties make reciprocal commitments in terms of their behavior to coordinate. As this concept has become essential to economics in the last 30 years, three main theoretical frameworks have emerged: 'incentive theory', 'incomplete-contract theory' and 'transaction-costs theory'. These frameworks have enabled scholars to renew both the microeconomics of coordination (with implications for industrial organization, labor economics, law and economics, organization design) and the macroeconomics of 'market' (decentralized) economies and of the institutional framework. These developments have resulted in new analyses of a firm's strategy and State intervention (regulation of public utilities, anti-trust, public procurement, institutional design, liberalization policies, etc.). Based on contributions by the leading scholars in the field, this book provides an overview of the past and recent developments in these analytical currents, presents their various aspects, and proposes expanding horizons for theoreticians and practitioners. |
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| Item Description: | Includes revised and translated versions of chapters which appeared in a special issue of Revue d'économie industrielle (2002, 92). |
| Physical Description: | 1 online resource (xvi, 584 pages) : illustrations |
| Bibliography: | Includes bibliographical references and index. |
| DOI: | 10.1017/CBO9780511613807 |