A note on asset specificity

Roland Bel ()
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Roland Bel: Kedge Business School

Economics Bulletin, 2015, vol. 35, issue 3, 1645-1651

Abstract: In this note, we discuss the theoretical formulation of the concept of specificity and expose preliminary results showing that different types of asset specificity call for the use of different control rights. Contrary to transaction cost and property right theories, but in line with increasing empirical evidence, high levels of specificity do not necessarily lead to unified ownership.

Keywords: Asset specificity; property rights; control rights; incomplete contracts (search for similar items in EconPapers)
JEL-codes: D2 L2 (search for similar items in EconPapers)
Date: 2015-07-24
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