Loss Aversion and Ex Post Inefficient Renegotiation
Author
Suggested Citation
Download full text from publisher
Other versions of this item:
- Fabian Herweg & Klaus Schmidt, 2012. "Loss Aversion and Ex Post Inefficient Renegotiation," CESifo Working Paper Series 4031, CESifo.
References listed on IDEAS
- Hart, Oliver & Moore, John, 1990.
"Property Rights and the Nature of the Firm,"
Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-1158, December.
- Oliver Hart & John Moore, 1988. "Property Rights and the Nature of the Firm," Working papers 495, Massachusetts Institute of Technology (MIT), Department of Economics.
- Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
- Grossman, Sanford J & Hart, Oliver D, 1986.
"The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration,"
Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 691-719, August.
- Oliver Hart & Sanford Grossman, 1985. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Working papers 372, Massachusetts Institute of Technology (MIT), Department of Economics.
- Grossman, Sanford J & Hart, Oliver, 1985. "The Cost and Benefits of Ownership: A Theory of Vertical and Lateral Integration," CEPR Discussion Papers 70, C.E.P.R. Discussion Papers.
- Grossman, Sanford J. & Hart, Oliver D., 1986. "The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration," Scholarly Articles 3450060, Harvard University Department of Economics.
- David Genesove & Christopher Mayer, 2001.
"Loss Aversion and Seller Behavior: Evidence from the Housing Market,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(4), pages 1233-1260.
- David Genesove & Christopher Mayer, "undated". "Loss Aversion and Seller Behavior: Evidence from the Housing Market," Zell/Lurie Center Working Papers 323, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania.
- Genesove, David & Mayer, Christopher, 2001. "Loss Aversion and Seller Behaviour: Evidence from the Housing Market," CEPR Discussion Papers 2813, C.E.P.R. Discussion Papers.
- David Genesove & Christopher Mayer, 2001. "Loss Aversion and Seller Behavior: Evidence from the Housing Market," NBER Working Papers 8143, National Bureau of Economic Research, Inc.
- Daniel Kahneman & Amos Tversky, 2013.
"Prospect Theory: An Analysis of Decision Under Risk,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127,
World Scientific Publishing Co. Pte. Ltd..
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Oliver Hart, 2009. "Hold-up, Asset Ownership, and Reference Points," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 124(1), pages 267-300.
- Paul Heidhues & Botond Köszegi, 2004.
"The Impact of Consumer Loss Aversion on Pricing,"
CIG Working Papers
SP II 2004-17, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- Heidhues, Paul & Köszegi, Botond, 2005. "The Impact of Consumer Loss Aversion on Pricing," CEPR Discussion Papers 4849, C.E.P.R. Discussion Papers.
- Haim Levy, 1992. "Stochastic Dominance and Expected Utility: Survey and Analysis," Management Science, INFORMS, vol. 38(4), pages 555-593, April.
- Hart, Oliver D., 2009. "Hold-Up, Asset Ownership, and Reference Points," Scholarly Articles 34728601, Harvard University Department of Economics.
- Alvin E Roth, 2008. "Axiomatic Models of Bargaining," Levine's Working Paper Archive 122247000000002376, David K. Levine.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Rajkamal Iyer & Antoinette Schoar, 2015. "Ex Post (In) Efficient Negotiation and Breakdown of Trade," American Economic Review, American Economic Association, vol. 105(5), pages 291-294, May.
- Oliver Hart, 2013.
"Noncontractible Investments and Reference Points,"
Games, MDPI, vol. 4(3), pages 1-20, August.
- Oliver D. Hart, 2011. "Noncontractible Investments and Reference Points," NBER Working Papers 16929, National Bureau of Economic Research, Inc.
- Gine,Xavier & Jacoby,Hanan G. & Gine,Xavier & Jacoby,Hanan G., 2016. "Markets, contracts, and uncertainty in a groundwater economy," Policy Research Working Paper Series 7694, The World Bank.
- Marco Fongoni, 2018. "Workers' reciprocity and the (ir)relevance of wage cyclicality for the volatility of job creation," Working Papers 1809, University of Strathclyde Business School, Department of Economics.
- Yusuke Mori, 2013. "A Formal Behavioral Model of Firm Boundaries: Why Does Authority Relation Mitigate Ex Post Adaptation Problems?," ISER Discussion Paper 0863, Institute of Social and Economic Research, Osaka University.
- Francesco Passarelli & Guido Tabellini, 2017.
"Emotions and Political Unrest,"
Journal of Political Economy, University of Chicago Press, vol. 125(3), pages 903-946.
- Tabellini, Guido & Passarelli, Francesco, 2013. "Emotions and Political Unrest," CEPR Discussion Papers 9446, C.E.P.R. Discussion Papers.
- Francesco Passarelli & Guido Tabellini, 2013. "Emotions and Political Unrest," CESifo Working Paper Series 4165, CESifo.
- Francesco Passarelli & Guido Tabellini, 2013. "Emotions and Political Unrest," Working Papers 474, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Dickson, Alex & Fongoni, Marco, 2019. "Asymmetric reference-dependent reciprocity, downward wage rigidity, and the employment contract," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 409-429.
- Barkaoui, Ahmed & Dragicevic, Arnaud Z., 2016. "Nash bargaining and renegotiation with social preferences: case of the roundwood log supply contracts in the French timber market," Forest Policy and Economics, Elsevier, vol. 69(C), pages 90-100.
- Hart, Oliver D., 2013. "Noncontractible Investments and Reference Points," Scholarly Articles 29058539, Harvard University Department of Economics.
- Emin Karagözoğlu & Kerim Keskin & Elif Özcan-Tok, 2019. "Between anchors and aspirations: a new family of bargaining solutions," Review of Economic Design, Springer;Society for Economic Design, vol. 23(1), pages 53-73, June.
- Maija Halonen-Akatwijuka & Oliver D. Hart, 2013. "More is Less: Why Parties May Deliberately Write Incomplete Contracts," NBER Working Papers 19001, National Bureau of Economic Research, Inc.
- Daido, Kohei & Morita, Kimiyuki & Murooka, Takeshi & Ogawa, Hiromasa, 2013.
"Task assignment under agent loss aversion,"
Economics Letters, Elsevier, vol. 121(1), pages 35-38.
- Kohei Daido & Kimiyuki Morita & Takeshi Murooka & Hiromasa Ogawa, 2013. "Task Assignment under Agent Loss Aversion," Discussion Paper Series 103, School of Economics, Kwansei Gakuin University, revised Mar 2013.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Herweg, Fabian & Schmidt, Klaus M., 2012.
"A Theory of Ex Post Inefficient Renegotiation,"
Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems
390, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Herweg, Fabian & Schmidt, Klaus M., 2012. "A Theory of Ex Post Inefficient Renegotiation," Discussion Papers in Economics 14191, University of Munich, Department of Economics.
- Fabian Herweg & Klaus M. Schmidt, 2015.
"Loss Aversion and Inefficient Renegotiation,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(1), pages 297-332.
- Schmidt, Klaus & Herweg, Fabian, 2014. "Loss Aversion and Inefficient Renegotiation," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100485, Verein für Socialpolitik / German Economic Association.
- Herweg, Fabian & Karle, Heiko & Müller, Daniel, 2018.
"Incomplete contracting, renegotiation, and expectation-based loss aversion,"
Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 176-201.
- Herweg, Fabian & Karle, Heiko & Müller, Daniel, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100473, Verein für Socialpolitik / German Economic Association.
- Herweg, Fabian & Karle, Heiko & Müller, Daniel, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 454, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Karle, Heiko & Herweg, Fabian, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," CEPR Discussion Papers 9874, C.E.P.R. Discussion Papers.
- Fabian Herweg & Heiko Karle & Daniel Müller, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," CESifo Working Paper Series 4687, CESifo.
- Oliver Hart, 2013.
"Noncontractible Investments and Reference Points,"
Games, MDPI, vol. 4(3), pages 1-20, August.
- Oliver D. Hart, 2011. "Noncontractible Investments and Reference Points," NBER Working Papers 16929, National Bureau of Economic Research, Inc.
- Bester, Helmut, 2013.
"Investments and the holdup problem in a matching market,"
Journal of Mathematical Economics, Elsevier, vol. 49(4), pages 302-311.
- Bester, Helmut, 2009. "Investments and the Holdup Problem in a Matching Market," CEPR Discussion Papers 7332, C.E.P.R. Discussion Papers.
- Bester, Helmut, 2009. "Investments and the Holdup Problem in a Matching Market," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 263, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Bester, Helmut, 2009. "Investments and the holdup problem in a matching market," Discussion Papers 2009/7, Free University Berlin, School of Business & Economics.
- Erik Lehmann & Thorsten Braun & Sebastian Krispin, 2012.
"Entrepreneurial human capital, complementary assets, and takeover probability,"
The Journal of Technology Transfer, Springer, vol. 37(5), pages 589-608, October.
- Thorsten V. Braun & Sebastian Krispin & Erik E. Lehmann, 2009. "Entrepreneurial Human Capital, Complementary Assets, and Takeover Probability," Discussion Paper Series 307, Universitaet Augsburg, Institute for Economics.
- Braun, Thorsten V. & Krispin, Sebastian & Lehmann, Erik E., 2010. "Entrepreneurial human capital, complementary assets, and takeover probability," UO Working Papers 03-10, University of Augsburg, Chair of Management and Organization.
- Olivier Meier & Aurélie Sannajust, 0. "The smart contract revolution: a solution for the holdup problem?," Small Business Economics, Springer, vol. 0, pages 1-16.
- Charlie Joyez, 2017. "Firm heterogeneity and the integration trilemma: The utility of Joint ventures in integration versus outsourcing models," Working Papers DT/2017/09, DIAL (Développement, Institutions et Mondialisation).
- Halonen-Akatwijuka, Maija & Pafilis, Evagelos, 2020.
"Common ownership of public goods,"
Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 555-578.
- Maija Halonen-Akatwijuka & Evagelos Pafilis, 2018. "Common Ownership of Public Goods," Bristol Economics Discussion Papers 18/700, School of Economics, University of Bristol, UK.
- Schmitz, Patrick W., 2010.
"Contractual solutions to hold-up problems with quality uncertainty and unobservable investments,"
Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 807-816, September.
- Schmitz, Patrick W., 2009. "Contractual solutions to hold-up problems with quality uncertainty and unobservable investments," CEPR Discussion Papers 7584, C.E.P.R. Discussion Papers.
- Schmitz, Patrick W., 2010. "On contractual solutions to hold-up problems with quality uncertainty and unobservable investments," MPRA Paper 23157, University Library of Munich, Germany.
- Hart, Oliver D., 2013. "Noncontractible Investments and Reference Points," Scholarly Articles 29058539, Harvard University Department of Economics.
- Bernard Baudry & Virgile Chassagnon, 2012.
"The vertical network organization as a specific governance structure: what are the challenges for incomplete contracts theories and what are the theoretical implications for the boundaries of the (hub,"
Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 16(2), pages 285-303, May.
- Bernard Baudry & Virgile Chassagnon, 2012. "The vertical network organization as a specific governance structure : what are the challenges for incomplete contracts theories and what are the theoretical implications for the boundaries of the (hu," Post-Print halshs-00683231, HAL.
- Timothy Bresnahan & Jonathan Levin, 2012.
"Vertical Integration and Market Structure [The Handbook of Organizational Economics],"
Introductory Chapters,,
Princeton University Press.
- Timothy Bresnahan & Jonathan Levin, 2012. "Vertical Integration and Market Structure," Discussion Papers 11-010, Stanford Institute for Economic Policy Research.
- Timothy F. Bresnahan & Jonathan D. Levin, 2012. "Vertical Integration and Market Structure," NBER Working Papers 17889, National Bureau of Economic Research, Inc.
- Schmitz, Patrick W., 2016.
"The negotiators who knew too much: Transaction costs and incomplete information,"
Economics Letters, Elsevier, vol. 145(C), pages 33-37.
- Schmitz, Patrick W., 2016. "The Negotiators Who Knew Too Much: Transaction Costs and Incomplete Information," CEPR Discussion Papers 11276, C.E.P.R. Discussion Papers.
- Schmitz, Patrick W., 2016. "The Negotiators Who Knew Too Much: Transaction Costs and Incomplete Information," MPRA Paper 91458, University Library of Munich, Germany.
- Berde, Éva, 2013. "A fundamentális transzformáció és a referenciapont szerepe a hiányos szerződések elméletében [The role of basic transformation and reference point in the theory of incomplete contracts]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 865-885.
- Paul Walker, 2013. "The ‘Reference Point’ Approach To The Theory Of The Firm: An Introduction," Journal of Economic Surveys, Wiley Blackwell, vol. 27(4), pages 670-695, September.
- Oliver Hart & Bengt Holmstrom, 2010.
"A Theory of Firm Scope,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(2), pages 483-513.
- Oliver Hart & Bengt Holmstrom, 2008. "A Theory of Firm Scope," NBER Working Papers 14613, National Bureau of Economic Research, Inc.
- Joern H. Block & Alexander Groh & Lars Hornuf & Tom Vanacker & Silvio Vismara, 2021.
"The entrepreneurial finance markets of the future: a comparison of crowdfunding and initial coin offerings,"
Small Business Economics, Springer, vol. 57(2), pages 865-882, August.
- Jörn H. Block & Alexander Groh & Lars Hornuf & Tom Vanacker & Silvio Vismara, 2021. "The entrepreneurial finance markets of the future : a comparison of crowdfunding and initial coin offerings," Post-Print hal-03337456, HAL.
- Mathias Erlei & Wiebke Roß, 2013.
"Bounded Rationality as an Essential Component of the Holdup Problem,"
TUC Working Papers in Economics
0009, Abteilung für Volkswirtschaftslehre, Technische Universität Clausthal (Department of Economics, Technical University Clausthal).
- Erlei, Mathias & Roß, Wiebke, 2015. "Bounded rationality as an essential component of the holdup problem," Beiträge zur Jahrestagung 2015 (Bayreuth) 140886, Verein für Socialpolitik, Ausschuss für Wirtschaftssysteme und Institutionenökonomik.
- Müller, Daniel & Schmitz, Patrick W., 2016.
"Transaction costs and the property rights approach to the theory of the firm,"
European Economic Review, Elsevier, vol. 87(C), pages 92-107.
- Schmitz, Patrick W., 2014. "Transaction costs and the property rights approach to the theory of the firm," CEPR Discussion Papers 10207, C.E.P.R. Discussion Papers.
- Müller, Daniel & Schmitz, Patrick W., 2016. "Transaction costs and the property rights approach to the theory of the firm," MPRA Paper 90790, University Library of Munich, Germany.
More about this item
JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
- D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MIC-2014-02-02 (Microeconomics)
- NEP-UPT-2014-02-02 (Utility Models and Prospect Theory)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:vfsc13:79772. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/vfsocea.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.