Incomplete contracts and competition: Another look at fisher body/general motors?

Antonio Nicita; Simone M. Sepe

doi:10.1007/s10657-010-9166-y

Incomplete contracts and competition: Another look at fisher body/general motors?

Antonio Nicita, Simone M. Sepe

Research output: Contribution to journal › Article › peer-review

2 Scopus citations

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.

Original language	English (US)
Pages (from-to)	495-514
Number of pages	20
Journal	European Journal of Law and Economics
Volume	34
Issue number	3
DOIs	https://doi.org/10.1007/s10657-010-9166-y
State	Published - Dec 2012

Keywords

Cross competition
Endogenous outside options
Hold-up problem
Incomplete contracts
Transaction costs
Vertical integration

ASJC Scopus subject areas

Business and International Management
Economics and Econometrics
Law

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10.1007/s10657-010-9166-y

Cite this

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title = "Incomplete contracts and competition: Another look at fisher body/general motors?",

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.",

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AB - 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.

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KW - Hold-up problem

KW - Incomplete contracts

KW - Transaction costs

KW - Vertical integration

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Incomplete contracts and competition: Another look at fisher body/general motors?

Abstract

Keywords

ASJC Scopus subject areas

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