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Article: Noncooperative Bargaining, Hostages, and Optimal Asset Ownership
Title | Noncooperative Bargaining, Hostages, and Optimal Asset Ownership |
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Authors | |
Issue Date | 1998 |
Publisher | American Economic Association. The Journal's web site is located at http://www.aeaweb.org/aer/index.php |
Citation | American Economic Review, 1998, v. 88 n. 4, p. 882-901 How to Cite? |
Abstract | This paper reexamines the effect of asset ownership on investment decisions for a joint relationship in the absence of contracts on investment levels. It obtains some results which contradict findings by Grossman, Hart, and Moore. In particular, it finds that the loss of ownership of an asset may increase the asset loser's investment incentive. The difference between this paper and those authors' papers stems from the different interpretations of the roles of the threat point and outside options in bargaining. This paper also clarifies the role of relationship-specific investments as a cause of integration. |
Persistent Identifier | http://hdl.handle.net/10722/177636 |
ISSN | 2023 Impact Factor: 10.5 2023 SCImago Journal Rankings: 22.344 |
SSRN | |
References |
DC Field | Value | Language |
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dc.contributor.author | Chiu, YS | en_US |
dc.date.accessioned | 2012-12-19T09:39:23Z | - |
dc.date.available | 2012-12-19T09:39:23Z | - |
dc.date.issued | 1998 | en_US |
dc.identifier.citation | American Economic Review, 1998, v. 88 n. 4, p. 882-901 | en_US |
dc.identifier.issn | 0002-8282 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177636 | - |
dc.description.abstract | This paper reexamines the effect of asset ownership on investment decisions for a joint relationship in the absence of contracts on investment levels. It obtains some results which contradict findings by Grossman, Hart, and Moore. In particular, it finds that the loss of ownership of an asset may increase the asset loser's investment incentive. The difference between this paper and those authors' papers stems from the different interpretations of the roles of the threat point and outside options in bargaining. This paper also clarifies the role of relationship-specific investments as a cause of integration. | en_US |
dc.language | eng | en_US |
dc.publisher | American Economic Association. The Journal's web site is located at http://www.aeaweb.org/aer/index.php | en_US |
dc.relation.ispartof | American Economic Review | en_US |
dc.title | Noncooperative Bargaining, Hostages, and Optimal Asset Ownership | en_US |
dc.type | Article | en_US |
dc.identifier.email | Chiu, YS: sywchiu@hku.hk | en_US |
dc.identifier.authority | Chiu, YS=rp01057 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.scopus | eid_2-s2.0-0000307458 | en_US |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-0000307458&selection=ref&src=s&origin=recordpage | en_US |
dc.identifier.volume | 88 | en_US |
dc.identifier.issue | 4 | en_US |
dc.identifier.spage | 882 | en_US |
dc.identifier.epage | 901 | en_US |
dc.publisher.place | United States | en_US |
dc.identifier.ssrn | 67508 | - |
dc.identifier.scopusauthorid | Chiu, YS=7202775090 | en_US |
dc.identifier.issnl | 0002-8282 | - |