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Persistent link: https://www.econbiz.de/10009765735
We explore why authority within firms helps trading parties immediately settle ex post adaptation problems despite the possibility of a subordinate's disobedience to the orders of his boss. By employing three crucial behavioral assumptions (reference-dependent preference, self-serving bias, and...
Persistent link: https://www.econbiz.de/10009728519
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We explore why authority within firms helps trading parties immediately settle ex post adaptation problems despite the possibility of a subordinate's disobedience to the orders of his boss. By employing three crucial behavioral assumptions (reference-dependent preference, self-serving bias, and...
Persistent link: https://www.econbiz.de/10010332524
We explore why authority within firms helps trading parties immediately settle ex post adaptation problems despite the possibility of a subordinate's disobedience to the orders of his boss. By employing three crucial behavioral assumptions (reference-dependent preference, self-serving bias, and...
Persistent link: https://www.econbiz.de/10013088158
We explore why authority within firms helps trading parties immediately settle ex post disputes over trade value, which are invited by unprogrammed adaptation, despite the possibility of a subordinate's disobedience to the orders of his boss. By employing three crucial behavioral assumptions...
Persistent link: https://www.econbiz.de/10013091096
We introduce a new model of the theory of the firm and analyze the distance between two parties, only one of whom has the ability to invent a profitable idea. Although idea sharing between the parties is efficient, the inventor might have an incentive to hide the idea to monopolize its value. We...
Persistent link: https://www.econbiz.de/10012937585
This study combines two influential yet separate theories of firm boundaries, namely transaction cost economics and property rights theory (PRT), by introducing an ex post adaptation to changes in trade circumstances into the PRT model. We demonstrate a tradeoff between ex ante investment and ex...
Persistent link: https://www.econbiz.de/10012938231