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

DOI10.1016/J.ECONLET.2017.07.026zbMATH Open1396.91349OpenAlexW2741749699MaRDI QIDQ1782397FDOQ1782397

Authors: Patrick W. Schmitz 

Publication date: 20 September 2018

Published in: Economics Letters (Search for Journal in Brave)

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

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zbMATH Keywords

private informationproperty rightsincomplete contractsinvestment incentivesrelationship specificity

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38)

Cites Work

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

Cited In (11)

• Optimal ownership of entrepreneurial firms with rational inattention
• Completely relationship-specific investments, transaction costs, and the property rights theory
• A Nobel Prize for 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
• ANNIVERSARY ARTICLE: A Perspective on “Asymmetric Information, Incentives and Intrafirm Resource Allocation”
• Joint ownership and the hold-up problem under asymmetric information
• Does Asset Ownership Always Motivate Managers? Outside Options and the Property Rights Theory of the Firm

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