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A Nobel Prize for Property Rights Theory

Author

Listed:
  • Richard Holden

    (UNSW Australia Business School, College Rd, Kensington NSW 2052, Australia)

Abstract

This article provides a brief overview of the Property-Rights Theory of the firm, pioneered by Grossman and Hart (1986) and Hart and Moore (1990), and situates the theory in other literatures.

Suggested Citation

  • Richard Holden, 2017. "A Nobel Prize for Property Rights Theory," Games, MDPI, vol. 8(1), pages 1-3, January.
    • Handle: RePEc:gam:jgames:v:8:y:2017:i:1:p:4-:d:86874
    as

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    References listed on IDEAS

    as
    1. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
    2. Grossman, Sanford J & Hart, Oliver D, 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
    3. Williamson, Oliver E, 1971. "The Vertical Integration of Production: Market Failure Considerations," American Economic Review, American Economic Association, vol. 61(2), pages 112-123, May.
    4. Hart, Oliver D & Moore, John, 1988. "Incomplete Contracts and Renegotiation," Econometrica, Econometric Society, vol. 56(4), pages 755-785, July.
    5. Philippe Aghion & Richard Holden, 2011. "Incomplete Contracts and the Theory of the Firm: What Have We Learned over the Past 25 Years?," Journal of Economic Perspectives, American Economic Association, vol. 25(2), pages 181-197, Spring.
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