Efficient ownership patterns: three examples

Date

1994

Editor(s)

Advisor

Paşa, Mehmet

Supervisor

Co-Advisor

Co-Supervisor

Instructor

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Abstract

This stud^ provides three exanpdes in whicli llie ownership structure of productive assets affects efhciency oF the economic outcome. We show how the incompleteness of contracts and the s])ecificit y of investments cause inefficient l^ehaviours and reductions in the efficient level of relation-specific investment because of the individuals' o])])ortunisti(' behaviour. We show the importance of ownershi]) on l^ehaviours of agents and their investment decisions l)y affecting the distribution of residual rights over assets and so the distribution of tlie sur])lus from investments. VVV' observe the effects of monitoring on the l)ehaviour of individuals in dilfeient types of ownership patterns.

Source Title

Publisher

Course

Other identifiers

Book Title

Degree Discipline

Economics

Degree Level

Master's

Degree Name

MA (Master of Arts)

Citation

Published Version (Please cite this version)

Language

English

Type