The economics of contracts : theories and applications / edited by Eric Brousseau and Jean-Michel Glachant.

Format:

Book

Contributor:

Brousseau, Eric, editor.

Glachant, Jean-Michel, editor.

Language:

English

Subjects (All):

Contracts--Economic aspects.

Contracts.

Physical Description:

1 online resource (xvi, 584 pages) : digital, PDF file(s).

Place of Publication:

Cambridge : Cambridge University Press, 2002.

Language Note:

English

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 2002 book provides an overview of developments in these analytical currents, presents their various aspects, and proposes expanding horizons for theoreticians and practitioners.

Contents:

The economics of contracts and the renewal of economics / Eric Brousseau and Jean-Michel Glachant

Appendix : Canonical models of theories of contract / M'Hand Fares

The new institutional economics / Ronald Coase

Contract and economic organization / Oliver E. Williamson

The role of incomplete contracts in self-enforcing relationships / Benjamin Klein

Entrepreneurship, transaction-cost economics, and the design of contracts / Eirik G. Furubotn

The contract as economic trade / Jacques Ghestin

Contract theory and theories of contract regulation / Alan Schwartz

Economic reasoning and the framing of contract law : sale of an asset of uncertain value / Victor P. Goldberg

A transactions-cost approach to the analysis of property rights / Gary D. Libecap

Transaction costs and incentive theory / Eric Malin and David Martimort

Norms and the theory of the firm / Oliver Hart

Allocating decision rights under liquidity constraints / Philippe Aghion and Patrick Rey

Complexity and contract / W. Bentley Macleod

Authority, as flexibility, is at the core of labor contracts / Olivier Favereau and Bernard Walliser

Positive agency theory : place and contributions / Gérard Charreaux

Econometrics of contracts : an assessment of developments in the empirical literature on contracting / Scott E. Masten and Stéphane Saussier

Experiments on moral hazard and incentives : reciprocity and surplus-sharing / Claudia Keser and Marc Willinger

Residual claims and self-enforcement as incentive mechanisms in franchise contracts : substitutes or complements? / Francine LaFontaine and Emmanuel Raynaud

The quasi-judicial role of large retailers : an efficiency hypothesis of their relation with suppliers / Benito Arruñada

Interconnection agreements in telecommunications networks : from strategic behaviors to property rights / Godefroy Dang-Nguyen and Thierry Pénard

Licensing in the chemical industry / Ashish Arora and Andrea Fosfuri

Inter-company agreements and EC competition law / Michel Glais

Incentive contracts in utility regulation / Matthew Bennett and Catherine Waddams Price

Contractual choice and performance : the case of water supply in France / Claude Ménard and Stéphane Saussier

Institutional or structural : lessons from international electricity sector reforms

Guy L. F. Holburn and Pablo T. Spiller

Electricity sector restructuring and competition : a transactions-cost perspective / Paul L. Joskow.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references and index.es.

ISBN:

1-107-13388-2

1-280-16241-4

0-511-12065-6

0-511-04251-5

0-511-20250-4

0-511-33025-1

0-511-61380-6

0-511-04568-9

OCLC:

252484917