Competition and the hold?up problem: a setting with non?exclusive contracts

This article o?ers a solution to the “hold-up” problem in a bilateral investment game. Without the existence of a centralized grand-contract, a buyer signs non-exclusive contracts with many sellers, and the equilibrium investment profile depends on the level of competition in the trading outcome. I...

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Detalles Bibliográficos
Autor Principal: Roig Roig, Guillem
Formato: Preimpresión (Preprint)
Publicado: Toulouse School of Economics 2014
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