Download e-book for iPad: The Economics of Crime and Litigation (Encyclopedia of Law by B. Bouckaert, Gerrit De Geest,

By B. Bouckaert, Gerrit De Geest,

ISBN-10: 1858989884

ISBN-13: 9781858989884

This article is quantity V of a five-volume reference paintings that surveys the total literature on legislations and economics. The entries include components: a overview of the literature by means of an expert within the box and a bibliography which covers many of the released fabric within the specific zone.

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Extra info for The Economics of Crime and Litigation (Encyclopedia of Law and Economics , Vol 5)

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1998), ‘Incentive Contracting and the Franchise Decision’, National Bureau of Economic Research Working Paper 6544. Lal, R. (1990), ‘Improving Channel Performance through Franchising’,9 Marketing Science, 299-318. Leffler, Keith B. and Rucker, Randal R. (1991), ‘Transaction Costs and the Efficient Organization of Production: A Study of Timber-Harvesting Contracts’, 99 Journal of Political Economy, 1060-1087. Libecap, Gary D. and Wiggins, Steven N. (1984), ‘Contractual Responses to the Common Pool: 4100 Contractual Choice 43 Prorationing of Crude Oil Production’, 74 American Economic Review, 87-98.

This reduces the commitment value of a long-term contract. However, this is not sufficient. In addition, the spot contracts should provide efficient consumption smoothing. When the agent does not have access to credit markets, spot contracting does not allow for consumption smoothing and hence spot contracts cannot implement the long-term contract. However, if the agent has access to credit markets and the principal can monitor this, we do get spot implementation, a result also found in Fudenberg, Holmstrom and Milgrom (1990), Malcomson and Spinnewyn (1988) and Rey and Salanié (1990).

Joskow, Paul L. (1988), ‘Asset Specificity and the Structure of Vertical Relationships: Empirical Evidence’, 4 Journal of Law, Economics, and Organization, 98-115. Joskow, Paul L. (1988b), ‘Price Adjustment in Long-Term Contracts: The Case of Coal,’ 31 Journal 42 Contractual Choice 4100 of Law and Economics, 47-83. Joskow, Paul L. (1990), ‘The Performance of Long-Term Contracts: Further Evidence from Coal Markets’, 21 Rand Journal of Economics, 251-274. Kaufman, Patrick J. and Lafontaine, Francine (1994), ‘Costs of Control: The Source of Economic Rents For McDonald’s Franchisees’, 37 Journal of Law and Economics, 417-543.

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The Economics of Crime and Litigation (Encyclopedia of Law and Economics , Vol 5) by B. Bouckaert, Gerrit De Geest,


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