On the value of partial commitment for cooperative investment in buyer–supplier relationship

被引：0
|
作者：
José de Sousa
Xavier Fairise
机构：
[1] ADIS,
[2] University of Paris Sud and CES,undefined
[3] University of Paris 1,undefined
[4] GAINS-TEPP,undefined
[5] Université du Maine,undefined
来源：
Journal of Economics | 2014年 / 111卷
关键词：
Incomplete contracts; Relationship-specific investments; Cooperation; K12; L22; C7;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
Does formal contracting foster cooperation in a buyer–supplier relationship? In line with the literature, we find that a renegotiable contract with relationship-specific joint investments does not make it possible to reach the first-best. However, we show that a renegotiable contract may induce more cooperation than an informal arrangement can. This result may help to understand how cooperation emerges in Japanese procurement practices, which typically involve relationship-specific joint investments and renegotiable contracts.
引用
收藏
页码：151 / 171
页数：20
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