Moral hazard and capital structure dynamics
We base a contracting theory for a startup firm on an agency model with observable but nonverifiable effort, and renegotiable contracts. Two essential restrictions on simple …
mathias-dewatripont
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Adverse selection and contracts: a discussion
Partners: Assortative Matching in a Non-Transferable World
Global vs. local competition
Third party monitoring and golden parachutes
The Impact of Incomplete Contracts on Economics
The book collects the presentations and discussions made at the conference celebrating the 25th anniversary of the publication of “Grossman and Hart (1986).1 The conference brought …
philippe-aghion