IDEAS home Printed from https://ideas.repec.org/a/spr/sjobre/v53y2001i1d10.1007_bf03372641.html
   My bibliography  Save this article

Ökonomische Analyse neoklassischer Verträge: Funktion und Wirkweise von Schiedsrichtern und Schlichtern in komplexen Transaktionsbeziehungen

Author

Listed:
  • Carsten Becker

    (GIB Gesellschaft für Innovationsforschung und Beratung)

Abstract

Summary This study examines the determinants of a neutral third party’s intervention in complex transaction relations. At its basis there rules the idea that the way through courts in order to get control of opportunism risks is often inefficient and that it would be better to let a third party intervene in functions of supervision and arbitration. The analyses of a third party’s intervention are based on a data sample which gives detailed information about 880 market contracts and co-operation projects. There is a tendency to often let a third party intervene if transaction parties intend to carry out especially high specific investments. Furthermore, third parties play a special role in respect of enforcing different contractual regulations or institutional arrangements. A third party intervenes, for example, in the following cases: if several (equal) partners are involved in a transaction, if hostages have to be exchanged or if sanctions have to be decided.

Suggested Citation

  • Carsten Becker, 2001. "Ökonomische Analyse neoklassischer Verträge: Funktion und Wirkweise von Schiedsrichtern und Schlichtern in komplexen Transaktionsbeziehungen," Schmalenbach Journal of Business Research, Springer, vol. 53(1), pages 39-54, February.
  • Handle: RePEc:spr:sjobre:v:53:y:2001:i:1:d:10.1007_bf03372641
    DOI: 10.1007/BF03372641
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/BF03372641
    File Function: Abstract
    Download Restriction: no

    File URL: https://libkey.io/10.1007/BF03372641?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Kronman, Anthony T, 1985. "Contract Law and the State of Nature," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 1(1), pages 5-32, Spring.
    2. Victor P. Goldberg, 1976. "Toward an Expanded Economic Theory of Contract," Journal of Economic Issues, Taylor & Francis Journals, vol. 10(1), pages 45-61, March.
    3. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law and Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
    4. Williamson, Oliver E, 1983. "Credible Commitments: Using Hostages to Support Exchange," American Economic Review, American Economic Association, vol. 73(4), pages 519-540, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kloyer, Martin & Scholderer, Joachim, 2012. "Effective incomplete contracts and milestones in market-distant R&D collaboration," Research Policy, Elsevier, vol. 41(2), pages 346-357.
    2. Mike, Károly & Kiss, Gábor, 2017. "Hitelesek-e a vállalkozások ígéretei Magyarországon? [Do Hungarian entrepreneurs make credible promises?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1285-1315.
    3. Hsuan-Yu Lin & Chih-Hai Yang, 2016. "Uncertainty, specific investment, and contract duration: evidence from the MLB player market," Empirical Economics, Springer, vol. 50(3), pages 1009-1028, May.
    4. Kim, Jongwook & Mahoney, Joseph T., 2008. "A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach," Working Papers 08-0108, University of Illinois at Urbana-Champaign, College of Business.
    5. de Bragança, Gabriel Godofredo Fiuza & Daglish, Toby, 2017. "Investing in vertical integration: electricity retail market participation," Energy Economics, Elsevier, vol. 67(C), pages 355-365.
    6. Gersbach, Hans & Glazer, Amihai, 1999. "Markets and Regulatory Hold-Up Problems," Journal of Environmental Economics and Management, Elsevier, vol. 37(2), pages 151-164, March.
    7. Dildar Hussain & Josef Windsperger, 2013. "A property rights view of multi-unit franchising," European Journal of Law and Economics, Springer, vol. 35(2), pages 169-185, April.
    8. Kosnik, Lea & Lange, Ian, 2011. "Contract renegotiation and rent re-distribution: Who gets raked over the coals?," Journal of Environmental Economics and Management, Elsevier, vol. 62(2), pages 155-165, September.
    9. Stienstra, Miranda, 2020. "The determinants and performance implications of alliance partner acquisition," Other publications TiSEM 7fdee0c2-d4d2-4f5b-95e3-2, Tilburg University, School of Economics and Management.
    10. Tomoeda, Kentaro, 2019. "Efficient investments in the implementation problem," Journal of Economic Theory, Elsevier, vol. 182(C), pages 247-278.
    11. Shanoyan, Aleksan & Brent Ross, R. & Gow, Hamish R. & Christopher Peterson, H., 2014. "Long-term sustainability of third-party facilitated market linkages: Evidence from the USDA marketing assistance program in the Armenian dairy industry," Food Policy, Elsevier, vol. 46(C), pages 157-164.
    12. Manuel González & Benito Arruñada & Alberto Fernández, 1997. "La decisión de subcontratar: el caso de las empresas constructoras," Investigaciones Economicas, Fundación SEPI, vol. 21(3), pages 501-521, September.
    13. Hermano, Víctor & Martín-Cruz, Natalia, 2013. "How to Deliver Foreign Aid? The Case of Projects Governed by the Spanish International Agency," World Development, Elsevier, vol. 43(C), pages 298-314.
    14. Noorderhaven, Niels G., 1995. "Transaction, interaction, institutionalization: Toward a dynamic theory of hybrid governance," Scandinavian Journal of Management, Elsevier, vol. 11(1), pages 43-55, March.
    15. Williamson, Oliver E., 2010. "Transaction Cost Economics: The Natural Progression," Journal of Retailing, Elsevier, vol. 86(3), pages 215-226.
    16. Jean-François Hennart, 2020. "More than intent: A bundling model of MNE–SME interactions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(7), pages 1176-1194, September.
    17. Bengtsson, Niklas, 2015. "Efficient informal trade: Theory and experimental evidence from the Cape Town taxi market," Journal of Development Economics, Elsevier, vol. 115(C), pages 85-98.
    18. Délila Allam, 2008. "Les raisons d'être de la franchise dans les transactions de services aux entreprises," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00643798, HAL.
    19. Kim, Keysuk & Frazier, Gary L., 1997. "Measurement of distributor commitment in industrial channels of distribution," Journal of Business Research, Elsevier, vol. 40(2), pages 139-154, October.
    20. Gow, Hamish R. & Swinnen, Johan F.M., 2002. "Investment, and Contract Hold-Ups in Transition: Evidence from Hungary," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24853, European Association of Agricultural Economists.

    More about this item

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sjobre:v:53:y:2001:i:1:d:10.1007_bf03372641. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.