On the Relation Between Asset Ownership and Specific Investments
Dados Bibliográficos
| ID | 9715929 |
|---|---|
| Autores | Joep Sonnemans (0000-0001-7545-7409, University of Amsterdam, Tinbergen Institute and CREED), Hessel Oosterbeek (0000-0001-7078-9957, University of Amsterdam and Tinbergen Institute), Randolph Sloof (0000-0002-8113-1269, University of Amsterdam and Tinbergen Institute) |
| Ano | 2001 |
| Volume | 111 |
| Fascículo | 474 |
| Páginas | 791-820 |
| Data de publicação | 2001-10-01 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | The Economic Journal (JOURNAL) |
| Identificadores do periódico | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editora | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/1468-0297.00660 |
| OpenAlex | W2124056910 |
| Idioma | EN |
| Citações recebidas | 3 |
| Referências citadas | 5 |
Experimental results are presented for a simplified version of Hart s(1995) theory of the firm. Theory predicts that investment levels remain constant when investors no-trade pay-offs increase, if these pay-offs are threat points. While they may decrease when no-trade pay-offs are outside options. Our results support these predictions in a relative sense. Average investment levels exceed the predicted level. Actual investment behaviour is consistent with the outcomes of the bargaining stage. The play of the game is supported by a reciprocity mechanism in which non-investors consider higher investment levels as fair behaviour which deserves a reward. Investors anticipate this
Asset (computer security · Business · Computer security · Financial system · Industrial organization · Relation (database · Auction Theory and Applications · Computer Science · Corporate Finance and Governance · Experimental Behavioral Economics Studies · Finance
| Obras citantes distintas | 3 |
|---|---|
| Citações por ano | 0,13 |
| Intervalo de citações | 2002 - 2005 (4) |
| Velocidade de citação | historical |
| Altamente citado | Não |
| Tipos de citação | Neutras: 3 |