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Incomplete contracts, the hold-up problem, and asymmetric information

Given symmetric information, in a standard hold-up problem a buyer?s investment incentives are always increasing in his bargaining power. While this result is robust under one-sided private information, it can be overturned under two-sided private information.

出版机构:Elsevier Science

刊物名称:Economics Letters

出版时间:2008

ISSN:0165-1765

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