Contract design and costly verification games

Article Abstract:

The signalling subgame was considered to assess the design of contract and verification under an investor-entrepreneur contract. The game indicated that truth-telling and deterministic verification are not part of an equilibrium behavior as shown by the presence of a unique Perfect Bayesian Equilibrium in mixed strategies. Consideration of the entire game also revealed that less verification expenditure is achieved under a contract formulated by an informed trader.

Models, Bayesian statistical decision theory, Bayesian analysis, Game theory

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Menu costs and nominal price friction: an experimental examination

Article Abstract:

The impact of menu costs on monopoly behavior was assessed through utilization of experimental markets. The analysis approach involves validation of a New Keynesian theory of business fluctuations in a controlled setting that is characterized by subjects making decisions for real, salient payoffs. Under a static environment, real economic effects created by menu costs was noted.

Research, Analysis, Pricing, Monopolies, Cost (Economics), Costs (Economics)

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Asset specificity, uncertainty and relational norms: an examination of coordination costs in collaborative strategic alliances

Article Abstract:

Relational exchange and transaction cost theories are used to help develop a model to understand coordination costs. Links between exchange costs and alliance performance are examined in detail.

Joint ventures, Alliances, Alliances (Government relations)

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