ON THE ECONOMIC-EFFICIENCY OF LIQUIDATED DAMAGES

被引：4
|
作者：
SPIEGEL, Y
机构：
[1] Bellcore, Morristown, NJ 07962-1910, Room 2M-356
来源：
ECONOMICS LETTERS | 1994年 / 45卷 / 03期
关键词：
D O I：
10.1016/0165-1765(94)90041-8
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Recently, Aghion and Bolton (American Economic Review, 1987, 77, 388-401) have shown that liquidated damages can serve as a barrier to entry and may therefore be socially harmful. In this paper I show that liquidated damages remain excessive and continue to serve as a barrier to entry even in the presence of relationship-specific investment, but may nevertheless have an overall positive effect on welfare.
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页码：379 / 383
页数：5
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