In an environment in which both buyers and sellers can undertake match specific investments, the presence of market competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In particular, this Paper shows that when matching is...

We develop a model of unforeseen contingencies. These are contingencies that are understood by economic agents — their consequences and probabilities are known — but are such that every description of such events necessarily leaves out relevant features that have a non-negligible impact on...

We describe and analyze a contractual environment that allows a role for an active court. The model we analyze is the same as in Anderlini, Felli, and Postlewaite (2006). An active court can improve on the outcome that the parties would achieve without it. The institutional role of the court is...

We develop a model of unforeseen contingencies. These are contingencies that are understood by economic agents – their consequences and probabilities are known – but are such that every description of such events necessarily leaves out relevant features that have a non-negligible impact on...

In an environment in which both buyers and sellers can undertake match specific investments, the presence of market competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In particular, this paper shows that when matching is...

We find an economic rationale for the common sense answer to the question in our title — courts should not always enforce what the contracting parties write. We describe and analyze a contractual environment that allows a role for an active court. An active court can improve on the outcome...

Purpose of the paper: The aim of this paper is to describe and explain the flexibility offered by different business models adopted by different firms as they strive to achieve higher levels of business performance. Research Method: Cross-sectional research is used to investigate a matched pair...

The growing academic attention given to outsourcing and offshoring reflects a trend to develop offshore business models that capitalises on both the effectiveness and efficiencies that might be offered by the business network. Recent innovations in information communications technologies have...

Network pictures have been perceived as providing a picture of a company's position within a network ([Ford, D., Gadde, L.E., Håkansson, H., and Snehota, I. (2002), “Managing Networks,” IMP Group in Asia, 11th–13th December.]; [Ramos, C., Ford, D. and Naudé, P., (2005), “Developing...

Companies face difficult decisions regarding their management of business relationships; how much resource should they commit, when and with whom? The decisions managers make about these issues provide a ‘frame’ for their business relationships and thus a structure for their surrounding...