Digitalization is a reality that governs more and more both the society and the economy, facilitating new and more efficient ways of setting up business and business collaborations. Rational agreement routines and well thought through contracts help organizations to avoid legal disputes and thus...

The article focuses on the Italian financial system, proposing an analysis of the relational structure among listed financial companies and its evolution in recent years. In order to detect this structure, we investigate a specific kind of interorganizational tie, emerging when members of a...

We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. These constraints make the corresponding maximization (sup) problems non recursive. Our approach consists of studying a recursive Lagrangian. Under standard general conditions, there is...

This paper tests an idea from relational contracting theory [Macauley (1963); North (1990); Greif (1994); Kranton (1996)] that informal relationships can substitute for formal contract enforcement through the judicial system, from the analysis of a new survey of the surgical instrument cluster...

Switching costs and network effects bind customers to vendors if products are incompatible, locking customers or even markets in to early choices. Lock-in hinders customers from changing suppliers in response to (predictable or unpredictable) changes in efficiency, and gives vendors lucrative ex...

I study a repeated buyer-seller relationship for the exchange of a given good. Asymmetric information over the buyer's reservation price, which is subject to random shocks, may lead the seller to use a rigid pricing policy despite the possibility of making higher profits through price...

This paper aims to analyse the relationship between Russia and the IMF. The model used is one with a multilateral lender, whose utility depends on the stability of the international financial system, and a borrowing country, whose debt threatens this stability.