The Impact of Incomplete Contracts on Economics
ISBN: 9780190259020
Platform/Publisher: Oxford Academic / Oxford University Press
Digital rights: Users: Unlimited; Printing: Unlimited; Download: Unlimited
Subjects: Public Economics;

The 1986 article by Sanford J. Grossman and Oliver D. Hart titled "A Theory of Vertical and Lateral Integration" has provided a framework for understanding how firm boundaries are defined and how they affect economic performance. The property rights approach has provided a formal way to introduce incomplete contracting ideas into economic modeling. The Impact of Incomplete Contracts on Economics collects papers and opinion pieces on the impact that this property right approach to the firm has had on the economics profession.


Philippe Aghion is the Robert C. Waggoner Professor of Economics at Harvard University and a fellow of the Econometric Society and of the American Academy of Arts and Sciences.

Mathias Dewatripont is Director of the National Bank of Belgium, Professor of Economics at the Universit#65533; libre de Bruxelles. and a fellow of the Econometric Society and of the American Academy of Arts and Sciences

Patrick Legros is Professor of Economics at the Universit#65533; libre de Bruxelles in Belgium and a fellow of its research center ECARES.

Luigi Zingales is Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance and Charles M. Harper Faculty Fellow at the University of Chicago Booth School of Business.

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