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Endogenous Transaction Costs and Theory of Contract, Ownership, and Residual Rights

In: Inframarginal Economics

Author

Listed:
  • Xiaokai Yang

    (University of New South Wales, Australia)

  • Wai-Man Liu

    (University of New South Wales, Australia)

Abstract

The following sections are included:Endogenous Transaction Costs and Moral HazardNeoclassical Principal-Agent ModelsA Smithian General Equilibrium Model of Principal-AgentThe Trade off Between Endogenous Transaction Costs caused by Moral Hazard and Monitoring Cost and Incomplete Labor ContractFurther Reading

Suggested Citation

  • Xiaokai Yang & Wai-Man Liu, 2008. "Endogenous Transaction Costs and Theory of Contract, Ownership, and Residual Rights," World Scientific Book Chapters, in: Inframarginal Economics, chapter 8, pages 205-236, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812837929_0008
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    Cited by:

    1. Limin Gao & Sajid Anwar, 2024. "Labour market rigidity and firm innovation," Australian Economic Papers, Wiley Blackwell, vol. 63(2), pages 237-257, June.

    More about this item

    Keywords

    Inframarginal Economics; Inframarginal Analysis; Division of Labor; Specialization; Network Effects; Smithian Framework; Transaction Costs;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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