Foundations of Incomplete Contracts

Oliver Hart and John Moore

No 6726, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In the last few years a new area has emerged in economic theory, which goes under the heading of However, almost since its inception, the theory has been under attack for its lack of rigorous foundations. In this paper, we evaluate some of the criticisms that have been made of the theory, in particular, those in Maskin and Tirole (1998a). In doing so, we develop a model that provides a rigorous foundation for the idea that contracts are incomplete.

JEL-codes: D23 (search for similar items in EconPapers)
Date: 1998-09
New Economics Papers: this item is included in nep-cdm, nep-mic and nep-pke
Note: CF
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (20)

Published as Review of Economic Studies, Vol. 66, no. 1 (1999): 115-138.

Downloads: (external link)
http://www.nber.org/papers/w6726.pdf (application/pdf)

Related works:
Journal Article: Foundations of Incomplete Contracts (1999)
Working Paper: Foundations of incomplete contracts (1998)
Working Paper: Foundations of Incomplete Contracts (1998)
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: https://EconPapers.repec.org/RePEc:nbr:nberwo:6726

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w6726

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().