Australasia's Biggest Online Store

Shop over 1.5 Million Toys in our Huge New Range

The Economics of Contracts

A contract is an agreement under which two parties make reciprocal commitments in terms of their behavior to coordinate. As this concept has become essential to economics in the last 30 years, three main theoretical frameworks have emerged: 'incentive theory', 'incomplete-contract theory' and 'transaction-costs theory'. These frameworks have enabled scholars to renew both the microeconomics of coordination (with implications for industrial organization, labor economics, law and economics, organization design) and the macroeconomics of 'market' (decentralized) economies and of the institutional framework. These developments have resulted in new analyses of a firm's strategy and State intervention (regulation of public utilities, anti-trust, public procurement, institutional design, liberalization policies, etc.). Based on contributions by the leading scholars in the field, this book provides an overview of the past and recent developments in these analytical currents, presents their various aspects, and proposes expanding horizons for theoreticians and practitioners.
Product Details

Table of Contents

Part I. Introduction: 1 Economics of contracts and renewal of economic analysis Eric Brousseau and Jean -Michel Glachant; Appendix: canonical models of three different theories of contract M'hand Fares; Part II. Contracts, Organizations and Institutions: 2. The new institutional economics Ronald Coase; 3. Contract and economic organization Oliver Williamson; 4. The role of incomplete contracts in self-enforcing relationships Benjamin Klein; 5. Entrepreneurship, transaction costs and the design of contracts Erik G. Furubotn; Part III. Law and Economics: 6. The contract as economic exchange Jacques Ghestin; 7. Contract theory and theories of contract regulation Alan Schwartz; 8. Economic reasoning and the framing of contract law Victor Goldberg; 9. A transactions costs approach to the analysis of property rights Gary Libecap; Part IV. Theoretical Developments: Where Do We Stand?: 10. Transaction costs in incentive theory David Martimort and Eric Malin; 11. Norms and the theory of the firm Oliver Hart; 12. Liquidity constraint and the allocation of control rights Philippe Aghion and Patrick Rey; 13. Complexity and contract W. Bentley McLeod; 14. Authority, as flexibility, is the core of labour contracts Olivier Favereau and Bernard Walliser; 15. Positive agency theory: positioning and contribution Gerard Charreaux; Part V. Testing Contract Theories: 16. Econometrics of contracts: an assessment of developments in the empirical literature on contracting Scott Masten and Stephanie Saussier; 17. Experiments on moral hazard and incentives: reciprocity and surplus sharing Marc Willinger and Claudia Keser; Part VI. Applied Issues: Contributions to Industrial Organization: 18. Residual claimancy rights and ongoing rents as incentive mechanisms in franchise contracts: complements or substitutes? Francine Lafontaine and Emmanuel Raynaud; 19. The quasi judicial role of large retailers Benito Arrunada; 20. Interconnection agreements: strategic behaviour and property rights Godefroy Dang N'guyen and Thierry Penard; 21. Licensing in the chemical industry Asish Aroroa and Andrea Fosfuri; Part VII. Policy Issues: Anti-trust and Regulation of Public Utilities: 22. Inter-industry agreements and European community competition law Michel Glais; 23. Incentive contracts in utility regulation Matthew Bennett and Catherine Waddams Price; 24. Contractual choice and performance: the case of water supply in France Claude Menard and Stephane Saussier; 25. Institutional or structural reform: sequencing strategies for reforming the electricity industry Pablo Spiller and Guy Holburn; 26. Electricity sector restructuring and competition Paul Joskow.

About the Author

ERIC BROUSSEAU is Professor of Economics at the University of Paris X. JEAN-MICHEL GLACHANT is Head of the Department of Economics at the University of Paris XI.

Ask a Question About this Product More...
Write your question below:
Look for similar items by category
Home » Books » Business » Economics » General
People also searched for
How Fishpond Works
Fishpond works with suppliers all over the world to bring you a huge selection of products, really great prices, and delivery included on over 25 million products that we sell. We do our best every day to make Fishpond an awesome place for customers to shop and get what they want — all at the best prices online.
Webmasters, Bloggers & Website Owners
You can earn a 5% commission by selling The Economics of Contracts: Theories and Applications on your website. It's easy to get started - we will give you example code. After you're set-up, your website can earn you money while you work, play or even sleep! You should start right now!
Authors / Publishers
Are you the Author or Publisher of a book? Or the manufacturer of one of the millions of products that we sell. You can improve sales and grow your revenue by submitting additional information on this title. The better the information we have about a product, the more we will sell!
Item ships from and is sold by Fishpond World Ltd.
Back to top