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Foundations of incomplete contracts

Author: Oliver D Hart; John Moore; National Bureau of Economic Research.
Publisher: Cambridge, MA : National Bureau of Economic Research, ©1998.
Series: Working paper series (National Bureau of Economic Research), working paper no. 6726.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Abstract: In the last few years a new area has emerged in economic theory, which goes under the heading of However, almost since its inception, the theory has been under attack for its lack of rigorous foundations. In this paper, we evaluate some of the criticisms that have been made of the theory, in particular, those in Maskin and Tirole (1998a). In doing so, we develop a model that provides a rigorous foundation  Read more...
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Additional Physical Format: (OCoLC)40297670
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Oliver D Hart; John Moore; National Bureau of Economic Research.
OCLC Number: 1037004292
Notes: September 1998."
Reproduction Notes: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011. MiAaHDL
Description: 48 pages ; 22 cm.
Details: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Series Title: Working paper series (National Bureau of Economic Research), working paper no. 6726.
Other Titles: Incomplete contracts
Responsibility: Oliver Hart, John Moore.

Abstract:

Abstract: In the last few years a new area has emerged in economic theory, which goes under the heading of However, almost since its inception, the theory has been under attack for its lack of rigorous foundations. In this paper, we evaluate some of the criticisms that have been made of the theory, in particular, those in Maskin and Tirole (1998a). In doing so, we develop a model that provides a rigorous foundation for the idea that contracts are incomplete.

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