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Wie sollte die Managementvergütung (nicht) reguliert werden? Ordnungspolitische Überlegungen zur Haftungsbeschränkung von und in Organisationen
Pies, Ingo; Sass, Peter - 2011
Walter Eucken strongly rejected the institution of limited liability. From his point of view, only unrestricted full … liability was in conformity with the market order. This perspective misses important insights, as is shown with recourse to the … of limited liability. Second, one can realize further welfare gains within organizations by means of incentive contracts …
Persistent link: https://www.econbiz.de/10011733795
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The design of vertical R&D collaborations
Herbst, Patrick; Walz, Uwe - 2009
Suppliers play a major role in innovation processes. We analyze ownership allocations and the choice of R&D technology in vertical R&D cooperations. Given incomplete contracts on the R&D outcome, there is a tradeoff between R&D specifically designed towards a manufacturer (increasing investment...
Persistent link: https://www.econbiz.de/10010303700
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On platforms, incomplete contracts, and open source software
Niedermayer, Andras - 2007
We consider a firm A initially owning a software platform (e.g. operating system) and an application for this platform. The specific knowledge of another firm B is needed to make the platform successful by creating a further application. When B's application is completed, A has incentives to...
Persistent link: https://www.econbiz.de/10010316074
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Haftung und Innovation: Ordonomische Überlegungen zur Aktualisierung der ordnungspolitischen Konzeption
Pies, Ingo; Sass, Peter - 2011
Konzeption werden ordonomische Überlegungen entwickelt, wie man Haftung und Innovation für nachhaltiges Wachstum durch geeignete … concept takes a very radical position against limited liability, which is based on mistakes. Against this background, this … arrangements and their incentive effects can foster limited liability as well as innovation and thus support sustainable growth. …
Persistent link: https://www.econbiz.de/10011733797
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Delegation of Authority as an Optimal (In)complete Contract
Roider, Andreas - 2004
The present paper aims to contribute to the literature on the foundations of incomplete contracts by providing conditions under which simple delegation of authority is the solution to the complete-contracting problem of the parties. We consider a hold-up framework where both parties profit from...
Persistent link: https://www.econbiz.de/10010262045
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Contracting with Private Information
Hagedorn, Marcus - 2003
This paper adds to the current literature on incomplete contracting that argues that deviating from a complete information, transaction-cost free environment may be may generate valuable insights. We achieve this by assuming bargaining with asymmetric information. We consider the consequences of...
Persistent link: https://www.econbiz.de/10010262108
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Delegation of Authority as an Optimal (In)complete Contract
Roider, Andreas - 2003
The present paper aims to contribute to the literature on the foundations of incomplete contracts by providing conditions under which simple delegation of authority is the solution to the complete-contracting problem of the parties. We consider a hold-up framework where both parties profit from...
Persistent link: https://www.econbiz.de/10010263062
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Persuasion as a contest
Skaperdas, Stergios; Vaidya, Samarth - 2007
From marketing and advertising to political campaigning and court proceedings, contending parties expend resources to persuade an audience of the correctness of their view. We examine how the probability of persuading the audience depends on the resources expended by the parties, so that...
Persistent link: https://www.econbiz.de/10010264260
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A theory of destructive entrepreneurship
Desai, Sameeksha; Ács, Zoltán J. - 2007
Policy interest since the early 1980s has focused in different ways on the crea-tion of a large, productive, taxable economy - in which entrepreneurship plays a role for employment, income growth and innovation. The current understanding of various forms of entrepreneurship remains incomplete,...
Persistent link: https://www.econbiz.de/10010271774
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Entrepreneurial human Capital, complementary assets, and takeover probability
Braun, Thorsten V.; Krispin, Sebastian; Lehmann, Erik E. - 2009
Gaining access to technologies, competencies, and knowledge is observed as one of the major motives for corporate mergers and acquisitions. In this paper we show that a knowledge-based firm's probability of being a takeover target is influenced by whether relevant specific human capital aimed...
Persistent link: https://www.econbiz.de/10010271448