Ex Post Destruction in the Hold-up Problem
We investigate whether or not ex post destruction can solve the hold-up problem. After clarifying the difference between ex post destruction and nontrade when negotiation breaks down, we show that the option of ex post destruction is not sufficient to enhance ex ante efficiency. In particular, only...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2013
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/1487 https://ink.library.smu.edu.sg/context/soe_research/article/2486/viewcontent/Holdup_destruction.pdf |
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| Institution: | Singapore Management University |
| Language: | English |