Investments, Holdup, and the Form of Market Contracts.
The authors analyze incomplete contracts to induce efficient investment. With exogenous switching costs, fixed-price contracts are efficient, generate some rigidity in prices, are renegotiated intermittently by possibly small amounts, and when inflation is positive, generate asymmetric responses to...
| Huvudupphovsmän: | , |
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| Materialtyp: | Journal article |
| Språk: | English |
| Publicerad: |
1993
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