In this paper we analyze the problem of the enforcement of incomplete contracts with endogenous outside options. Some of the equilibria we outline may reverse one of the main results presented in the standard literature. We then revisit the literature on the highly debated Fisher Body/General Motors merger and suggest an explanation based on GM’s need to control the Fisher brothers’ outside options.
Incomplete Contracts and Competition. Another look at Fisher Body/General Motors? / Nicita, Antonio; S., Sepe. - In: EUROPEAN JOURNAL OF LAW AND ECONOMICS. - ISSN 0929-1261. - STAMPA. - (2010). [10.1007/s10657-010-9166-y]
Incomplete Contracts and Competition. Another look at Fisher Body/General Motors?
NICITA, ANTONIO;
2010
Abstract
In this paper we analyze the problem of the enforcement of incomplete contracts with endogenous outside options. Some of the equilibria we outline may reverse one of the main results presented in the standard literature. We then revisit the literature on the highly debated Fisher Body/General Motors merger and suggest an explanation based on GM’s need to control the Fisher brothers’ outside options.File allegati a questo prodotto
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