Incomplete Contracts and Production Inefficiency in a Class Economy

This paper examines whether production efficiency is attained in a capitalistic class economy where complete contracts are not available. It is shown that such an economy often fails to achieve production efficiency.

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Year of publication:	1997-06
Authors:	Mikami, Kazuhiko
Institutions:	School of Economics, Kwansei Gakuin University

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Extent:	application/pdf
Series:	Discussion Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 16 13 pages
Classification:	L20 - Firm Objectives, Organization, and Behavior. General ; P10 - Capitalist Systems. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005764936