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The Hold-Up Problem and Incomplete Contracts: A Survey of Recent Topics in Contract Theory

Schmitz, Patrick W. (2001): The Hold-Up Problem and Incomplete Contracts: A Survey of Recent Topics in Contract Theory.

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Abstract

This article provides a non-technical survey on recent topics in the theory of contracts. The hold-up problem is presented and the incomplete contracts approach is discussed. Emphasis is put on conceptual problems and open questions that await further research.

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