This paper seeks to extend the standard assumption concerning incomplete contracts (New Institutional Economics). It is based on a very specific mar- ket transaction, within which parties can not affect the market structure. Instead, referring to transaction as introduced by John R. Commons, we want to stress in an incomplete contract the impact of competition dynam- ics on partiesʼ bargaining power and partiesʼ incentives to influence market competition in order to enhance their bargaining power. This view leads to broader and (sometimes divergent) results with respect to standard litera- ture on incomplete contract.
Nicita, A., Vatiero, M. (2007). The Contract and the Market: Towards a Broader Notion of Transaction?. STUDI E NOTE DI ECONOMIA, XII(1), 7-22.
The Contract and the Market: Towards a Broader Notion of Transaction?
NICITA, ANTONIO;VATIERO, MASSIMILIANO
2007-01-01
Abstract
This paper seeks to extend the standard assumption concerning incomplete contracts (New Institutional Economics). It is based on a very specific mar- ket transaction, within which parties can not affect the market structure. Instead, referring to transaction as introduced by John R. Commons, we want to stress in an incomplete contract the impact of competition dynam- ics on partiesʼ bargaining power and partiesʼ incentives to influence market competition in order to enhance their bargaining power. This view leads to broader and (sometimes divergent) results with respect to standard litera- ture on incomplete contract.File | Dimensione | Formato | |
---|---|---|---|
722NICITAVATIERO.pdf
non disponibili
Tipologia:
Post-print
Licenza:
NON PUBBLICO - Accesso privato/ristretto
Dimensione
195.22 kB
Formato
Adobe PDF
|
195.22 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
https://hdl.handle.net/11365/35503
Attenzione
Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo