We develop a model in which the parties to a joint production project have a choice of specifying contractual performance in terms of actions or deliverables. Penalties for noncompliance are not specified; rather, they are left to the courts under the legal doctrine of compensatory damages. We...

This paper provides the first review of developments in the application of cooperative game theory to issues of interest to strategic management; what we term “value capture theory.” Value capture theory provides a broad approach to formal strategy theory aimed at under- standing persistent...

Thaler and Sunstein (2008) advance the concept of ‘nudge’ policies—non-regulatory and non-fiscal mechanisms designed to enlist people's cognitive biases or motivational deficits so as to guide their behaviour in a desired direction. A core assumption of this approach is that policymakers...

This study examines how firms choose organizational form for their R&D alliances. Encouraging cooperation in these alliances is often challenging, given the difficulties in knowledge sharing between partners and protecting the property rights over partner knowledge. Interestingly, knowledge...