Cover of Philippe Aghion (EDT), Mathias Dewatripont (EDT), Patrick Legros (EDT), Luigi Zingales (EDT): Impact of Incomplete Contracts on Economics

Philippe Aghion (EDT), Mathias Dewatripont (EDT), Patrick Legros (EDT), Luigi Zingales (EDT) Impact of Incomplete Contracts on Economics

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Oxford University Press

2015

EPub
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224

978-0-19-025901-3

0-19-025901-9

Annotation

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.

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