Asymmetric information and the property rights approach to the theory of the firm

DOI10.1016/J.ECONLET.2017.07.026MaRDI QIDQ1782397zbMATH OpenOpenAlexFDO

Authors Patrick W. Schmitz

Publication date 20 September 2018

Published in Economics Letters (Search for Journal in Brave)

Copyright license Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International

Full work available at URL https://doi.org/10.1016/j.econlet.2017.07.026

zbMATH Keywords

private informationproperty rightsincomplete contractsinvestment incentivesrelationship specificity

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38)

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Cites work

• A formal model of firm boundaries and haggling
• Efficient mechanisms for bilateral trading
• Foundations of Incomplete Contracts
• Investments as signals of outside options
• Status quo bias in bargaining: an extension of the Myerson-Satterthwaite theorem with an application to the Coase theorem.

Cited in

(11)

• Optimal ownership of entrepreneurial firms with rational inattention
• A Nobel Prize for property rights theory
• Completely relationship-specific investments, transaction costs, and the property rights theory
• On the optimality of outsourcing when vertical integration can mitigate information asymmetries
• \textit{Ex ante} investment, \textit{ex post} adaptation, and joint ownership
• Investment spillovers and the allocation of property rights
• Investments in physical capital, relationship-specificity, and the property rights approach
• Moral hazard and the property rights approach to the theory of the firm
• Joint ownership and the hold-up problem under asymmetric information
• ANNIVERSARY ARTICLE: A Perspective on “Asymmetric Information, Incentives and Intrafirm Resource Allocation”
• Does Asset Ownership Always Motivate Managers? Outside Options and the Property Rights Theory of the Firm

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