Asset specificity is usually considered to be an argument for vertical integration.The main idea is that specificity induces opportunistic behaviour, and that vertical integration reduces this problem of opportunism. In ...

This paper examines a self-enforced relational incentive contract between a risk neutral principal and a risk averse agent where the agent's human capital is essential in ex post realization of values. I analyse the effect ...

Incentive schemes for teams are compared. I ask: under which conditions are relational incentive contracts based on joint performance evaluation, relative performance evaluation and independent performance evaluation ...

The extent of vertical coordination in the supply chain for salmon was limited until the early 1990s. During the last ten years, however, there have been several developments that have lead to tighter vertical coordination ...