Economics at your fingertips  

Ex ante investment, ex post adaptation, and joint ownership

Yusuke Mori

Economics Letters, 2020, vol. 187, issue C

Abstract: This study extends the property rights theory (PRT) model by introducing an ex post adaptation to changes in trade circumstances. We show that if uncertainty is sufficiently high, joint ownership can facilitate both ex ante investment and ex post adaptation.

Keywords: Incomplete contracts; Hold-up problem; Ex post adaptation; Asset ownership (search for similar items in EconPapers)
JEL-codes: D23 L14 M21 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.econlet.2019.108927

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Nithya Sathishkumar ().

Page updated 2021-03-09
Handle: RePEc:eee:ecolet:v:187:y:2020:i:c:s0165176519304720