Does competition solve the hold-up problem?
In an environment in which both buyers and sellers can undertake match specific investments, the presence of market competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In particular, this paper shows that when matching is ass...
|Authors and Corporations:||,|
|Other Authors:||Roberts, Kevin W. S.|
|Type of Resource:||E-Book|
München CESifo 2000
CESifo GmbH: CESifo working papers ; 317