Uncertainty, investment and productivity with relational contracts

James Malcomson

Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: This paper shows that, in the presence of relational contracts, an increase in uncertainty with no change in factor prices reduces capital investment and productivity in the long run even if the parties are otherwise risk neutral.

Keywords: General capital; specific capital; investment; relational contracts; risk (search for similar items in EconPapers)
Date: 2021-07-15
New Economics Papers: this item is included in nep-cfn, nep-cta and nep-eff
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://ora.ox.ac.uk/objects/uuid:47c05914-ddeb-4d83-b08b-393916ede627 (application/pdf)

Related works:
Journal Article: Uncertainty, Investment and Productivity with Relational Contracts (2024)
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:oxf:wpaper:940

Access Statistics for this paper

More papers in Economics Series Working Papers from University of Oxford, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Anne Pouliquen ( this e-mail address is bad, please contact ).