Relational Contracting and the Law and Economics of Vertical Integration PDF Download

Author: John Erickson
Publisher:
ISBN:
Category :
Languages : en
Pages : 548

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Author: Steven G. Medema
Publisher: Springer Science & Business Media
ISBN: 9401153507
Category : Law
Languages : en
Pages : 278

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Upon hearing that Ronald Coase had been awarded the Nobel Prize, a fellow economist's first response was to ask with whom Coase had shared the Prize. Whether this response was idiosyncratic or not, I do not know; I expect not. Part of this type of reaction can no doubt be explained by the fact that Coase has often been characterized as an economist who wrote only two significant or influential papers: "The Nature of the Firm" (1937) and "The Problem of Social Cost" (1960). And by typical professional standards of "significant" and "influential" (i. e. , widely read and cited), this perception embodies a great deal of truth, even subsequent to Coase's receipt of the Prize. This is not to say that there have not been other important works - "The Marginal Cost Controversy" (1946) and "The Lighthouse in Economics" (1974) come immediately to mind here - only that in a random sample of, say, one hundred economists, one would likely find few who could list a Coase bibliography beyond the two classic pieces noted above, in spite of Coase's significant publication record. ' The purpose of this collection is to assess the development of, tensions within, and prospects for Coasean Economics - those aspects of economic analysis that have evolved out of Coase's path-breaking work. Two major strands of research can be identified here: law and economics and the New Institutional Economics.

Author: NA NA
Publisher: Springer
ISBN: 1349741736
Category : History
Languages : en
Pages : 696

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A great deal of economics is about law - the functioning of markets, property rights and their enforcement, financial obligations, and so forth - yet these legal aspects are almost never addressed in the academic study of economics. Conversely, the study and practice of law entails a significant understanding of economics, yet the drafting and administration of laws often ignore economic principle. The New Palgrave Dictionary of Economics and the Law is uniquely placed by the quality, breadth and depth of its coverage to address this need for building bridges. Drawn from the ranks of academics, professional lawyers, and economists in eight countries, the 340 contributors include world experts in their fields. Among them are Nobel laureates in economics and eminent legal scholars. First published in 1998 and now available in paperback for the first time, The New Palgrave Dictionary of Economics and the Law has established itself as a classic reference work in this important field.

Author: Robert Gibbons
Publisher: Princeton University Press
ISBN: 0691132798
Category : Business & Economics
Languages : en
Pages : 1248

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(E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.

Author: Gerrit de Geest
Publisher: Edward Elgar Publishing
ISBN: 1849806640
Category : Law
Languages : en
Pages : 497

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This unique and timely book offers an up-to-date, clear and comprehensive review of the economic literature on contract law. The topical chapters written by leading international scholars include: precontractual liability, misrepresentation, duress, gratuitous promises, gifts, standard form contracts, interpretation, contract remedies, penalty clauses, impracticability and foreseeability. Option contracts, warranties, long-term contracts, marriage contracts, franchise contracts, quasi-contracts, behavioral approaches, and civil contract law are also discussed. This excellent resource on contract law and economics will be particularly suited to contract law scholars, law teachers, policy makers, and judges. For experts in and practitioners of contract law this will be a key book to buy.

Author: B. Bouckaert
Publisher: Springer Science & Business Media
ISBN: 9401708932
Category : Law
Languages : en
Pages : 672

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Law and economics can be considered as the most exciting development in legal scholarship in recent decades. This volume is the first all-encompassing bibliography in this area. It lists approximately 7000 publications, covering the whole area of law and economics, including `old' law and economics (topics such as antitrust law, labor law, tax law, social security, economic regulation, etc.) as well as `new' law and economics with such topics as tort law, contract law, family law, procedure, criminal law, etc.). The volume also includes the literature on the philosophical foundations and the fundamental concepts of the approach. Part Two gives a special survey of law and economics publications in Europe, written in other languages than English. The Bibliography of Law and Economics is an invaluable reference work for students, scholars, lawyers, economists and other people interested in this field.

Author: Jean Braucher
Publisher: Bloomsbury Publishing
ISBN: 1782250603
Category : Law
Languages : en
Pages : 466

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This book contains the papers prepared for a conference held at the Wisconsin Law School in 2011 to honour the work of Stewart Macaulay, one of the most famous contracts scholars of his generation. Macaulay has been writing about contracts and contract law for over 50 years; the 1960s were particularly productive years for him, when he introduced many novel ideas into the scholarly world. Macaulay's foundational work for what is now called relational contract theory was published during this period. Macaulay is also known for his use of empirical research and interdisciplinary theories to illuminate our knowledge of contracting practices. The papers in this volume reflect, in diverse ways, on the subsequent influence and the contemporary relevance of Macaulay's work. All the contributors are important contracts scholars in their own right: David Campbell and John Wightman from the UK, Brian Bix, Jay Feinman, Robert Gordon, Claire Hill, Charles Knapp, Ethan Leib, Deborah Post, Edward Rubin, Carol Sanger, Robert Scott, Gordon Smith, Josh Whitford (with Li-Wen Lin) and William Woodward from the USA. The volume also reproduces Macaulay's most cited paper, 'Non-Contractual Relations in Business', and excerpts from two other important papers of his, 'Private Legislation and the Duty to Read-Business Run by IBM Machine, the Law of Contracts and Credit Cards', and 'The Real and The Paper Deal: Empirical Pictures of Relationships, Complexity and the Urge for Transparent Simple Rules'.

Author: John Cunningham Wood
Publisher: Taylor & Francis
ISBN: 9780415248297
Category : Business & Economics
Languages : en
Pages : 480

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Book Description
This two-volume collection looks at the life and work of Alfred Pritchard Sloan, Jr. (1875-1966), chief executive of General Motors from 1923 to 1946, whose unique and ahead-of-its-time management style left an indelible mark on business and management studies.Also featuring an extensive bibliography, this set will prove valuable to business students and researchers alike.

Author: Glenn R. Carroll
Publisher: Oxford University Press
ISBN: 0195353196
Category : Business & Economics
Languages : en
Pages : 561

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Book Description
This book examines transaction cost economics, the influential theoretical perspective on organizations and industry that was the subject of Oliver Williamson's seminal book,Markets and Hierarchies (1975). Written by leading economists, sociologists, and political scientists, the essays collected here reflect the fruitful intellectual exchange that is occurring across the major social science disciplines. They examine transaction cost economics' general conceptual orientation, its specific theoretical propositions, its applications to policy, and its use in systematic empirical research. The chapters include classic texts, broad review essays, reflective commentaries, and several new contributions to a wide range of topics, including organizations, regulations and law, institutions, strategic management, game theory, entrepreneurship, innovation, finance, and technical information. The book begins with an overview of theory and research on transaction cost economics, highlighting the specific accomplishments of scholars working within the perspective and emphasizing the enormous influence that transaction cost reasoning exerts on the social sciences. The following section covers conceptual uses for the transaction cost framework and major theoretical or methodological elements within it, such as bounded rationality. While advancing some interesting theoretical propositions, these chapters are in fact more ambitious: each examines a specific field, area, or research program and attempts to fashion a new way of thinking about research questions. In the section on industrial applications, contributors study the application of transaction cost theory to a range of problems in utilities, telecommunications, laser printing, and early international trade. The book closes with four microanalytical chapters that delve into the structures and behaviors of specific aspects of firms and organizations: boards of directors, equity structures, employment models, human resource policies and practices, technology strategies, and innovation events. Firms, Markets, and Hierarchies collects excellent social science work on transaction cost economics, taking stock of its status, charting its future development, and fostering its renewal and evolution.

Author: Avinash K. Dixit
Publisher: Princeton University Press
ISBN: 1400841372
Category : Business & Economics
Languages : en
Pages : 182

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Book Description
How can property rights be protected and contracts be enforced in countries where the rule of law is ineffective or absent? How can firms from advanced market economies do business in such circumstances? In Lawlessness and Economics, Avinash Dixit examines the theory of private institutions that transcend or supplement weak economic governance from the state. In much of the world and through much of history, private mechanisms--such as long-term relationships, arbitration, social networks to disseminate information and norms to impose sanctions, and for-profit enforcement services--have grown up in place of formal, state-governed institutions. Even in countries with strong legal systems, many of these mechanisms continue under the shadow of the law. Numerous case studies and empirical investigations have demonstrated the variety, importance, and merits, and drawbacks of such institutions. This book builds on these studies and constructs a toolkit of theoretical models to analyze them. The models shed new conceptual light on the different modes of governance, and deepen our understanding of the interaction of the alternative institutions with each other and with the government's law. For example, one model explains the limit on the size of social networks and illuminates problems in the transition to more formal legal systems as economies grow beyond this limit. Other models explain why for-profit enforcement is inefficient. The models also help us understand why state law dovetails with some non-state institutions and collides with others. This can help less-developed countries and transition economies devise better processes for the introduction or reform of their formal legal systems.