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The Economics of Contracts
Theories and Applications

$164.00 (P)

Eric Brousseau, Jean -Michel Glachant, M'hand Fares, Ronald Coase, Oliver Williamson, Benjamin Klein, Erik G. Furubotn, Jacques Ghestin, Alan Schwartz, Victor Goldberg, Gary Libecap, David Martimort, Eric Malin, Oliver Hart, Philippe Aghion, Patrick Rey, W. Bentley McLeod, Olivier Favereau, Bernard Walliser, Gerard Charreaux, Scott Masten, Stéphanie Saussier, Marc Willinger, Claudia Keser, Francine Lafontaine, Emmanuel Raynaud, Benito Arrunada, Godefroy Dang N'guyen, Thierry Penard, Asish Aroroa, Andrea Fosfuri, Michel Glais, Matthew Bennett, Catherine Waddams Price, Claude Ménard, Pablo Spiller, Guy Holburn, Paul Joskow
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  • Date Published: November 2002
  • availability: Available
  • format: Hardback
  • isbn: 9780521814904

$ 164.00 (P)
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About the Authors
  • This is a comprehensive and up-to-date synthesis of the economic analysis of contracts written by a specially commissioned team of leading international scholars. The book offers a well structured analysis of theoretical developments, the diverse fields of applications, the methodologies in use, and the policy implications at both firm and state level. It offers a unique combination of theoretical and applied economics along with insights from law and management sciences. The volume is designed to appeal to scholars, graduate students and practitioners in economics, management and law.

    • The most comprehensive and authoritative survey of economics of contracts available
    • Deals with one of most dynamic areas of economic research at frontiers of economics, law, management and public policy
    • Written by leading economists from North America and Europe
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    Product details

    • Date Published: November 2002
    • format: Hardback
    • isbn: 9780521814904
    • length: 604 pages
    • dimensions: 229 x 152 x 38 mm
    • weight: 1.05kg
    • contains: 7 b/w illus. 16 tables
    • availability: Available
  • Table of Contents

    Part I. Introduction:
    1 Economics of contracts and renewal of economic analysis Eric Brousseau and Jean -Michel Glachant
    Appendix: canonical models of three different theories of contract M'hand Fares
    Part II. Contracts, Organizations and Institutions:
    2. The new institutional economics Ronald Coase
    3. Contract and economic organization Oliver Williamson
    4. The role of incomplete contracts in self-enforcing relationships Benjamin Klein
    5. Entrepreneurship, transaction costs and the design of contracts Erik G. Furubotn
    Part III. Law and Economics:
    6. The contract as economic exchange Jacques Ghestin
    7. Contract theory and theories of contract regulation Alan Schwartz
    8. Economic reasoning and the framing of contract law Victor Goldberg
    9. A transactions costs approach to the analysis of property rights Gary Libecap
    Part IV. Theoretical Developments: Where Do We Stand?:
    10. Transaction costs in incentive theory David Martimort and Eric Malin
    11. Norms and the theory of the firm Oliver Hart
    12. Liquidity constraint and the allocation of control rights Philippe Aghion and Patrick Rey
    13. Complexity and contract W. Bentley McLeod
    14. Authority, as flexibility, is the core of labour contracts Olivier Favereau and Bernard Walliser
    15. Positive agency theory: positioning and contribution Gerard Charreaux
    Part V. Testing Contract Theories:
    16. Econometrics of contracts: an assessment of developments in the empirical literature on contracting Scott Masten and Stéphanie Saussier
    17. Experiments on moral hazard and incentives: reciprocity and surplus sharing Marc Willinger and Claudia Keser
    Part VI. Applied Issues: Contributions to Industrial Organization:
    18. Residual claimancy rights and ongoing rents as incentive mechanisms in franchise contracts: complements or substitutes? Francine Lafontaine and Emmanuel Raynaud
    19. The quasi judicial role of large retailers Benito Arrunada
    20. Interconnection agreements: strategic behaviour and property rights Godefroy Dang N'guyen and Thierry Penard
    21. Licensing in the chemical industry Asish Aroroa and Andrea Fosfuri
    Part VII. Policy Issues: Anti-trust and Regulation of Public Utilities:
    22. Inter-industry agreements and European community competition law Michel Glais
    23. Incentive contracts in utility regulation Matthew Bennett and Catherine Waddams Price
    24. Contractual choice and performance: the case of water supply in France Claude Ménard and Stéphane Saussier
    25. Institutional or structural reform: sequencing strategies for reforming the electricity industry Pablo Spiller and Guy Holburn
    26. Electricity sector restructuring and competition Paul Joskow.

  • Instructors have used or reviewed this title for the following courses

    • Contracts
  • Editors

    Eric Brousseau, Université de Paris IX (Paris-Dauphine)
    Eric Brousseau is Professor of Economics at the University of Paris X.

    Jean-Michel Glachant, Université de Paris XI
    Jean-Michel Glachant is Head of the Department of Economics at the University of Paris XI.

    Contributors

    Eric Brousseau, Jean -Michel Glachant, M'hand Fares, Ronald Coase, Oliver Williamson, Benjamin Klein, Erik G. Furubotn, Jacques Ghestin, Alan Schwartz, Victor Goldberg, Gary Libecap, David Martimort, Eric Malin, Oliver Hart, Philippe Aghion, Patrick Rey, W. Bentley McLeod, Olivier Favereau, Bernard Walliser, Gerard Charreaux, Scott Masten, Stéphanie Saussier, Marc Willinger, Claudia Keser, Francine Lafontaine, Emmanuel Raynaud, Benito Arrunada, Godefroy Dang N'guyen, Thierry Penard, Asish Aroroa, Andrea Fosfuri, Michel Glais, Matthew Bennett, Catherine Waddams Price, Claude Ménard, Pablo Spiller, Guy Holburn, Paul Joskow

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