Co-specific investments, hold-up and self-enforcing contracts

被引：9

作者：

Koss, PA ^{[1
]}

Eaton, BC ^{[1
]}

机构：

[1] SIMON FRASER UNIV,BURNABY,BC V5A 1S6,CANADA

来源：

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 1997年 / 32卷 / 03期

关键词：

hold-up; specific investments; self-enforcing contracts;

D O I：

10.1016/S0167-2681(96)00031-5

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper offers a general model of the hold-up problem when investments are co-specific. Agents are risk-neutral and there are no information asymmetries. Nash bargaining with outside options determines the division of the surplus arising from exchange, The model formally demonstrates that reciprocal exposure to specific assets achieved via the partial redistribution of specific investment costs to the potentially opportunistic party serves as a credible commitment to mutually advantageous exchange.

引用

页码：457 / 470

页数：14

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