On the Duration of Agreements
On the Duration of Agreements
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关于协议的期限
DOI：
10.2307/2526732
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发表时间：
1987
影响因子：
1.5
通讯作者：
Bengt R. Holmstrom
中科院分区：
文献类型：
--
作者：
M. Harris;Bengt R. Holmstrom
建立并分析了两个无限寿命的借款人和贷款人之间的最优契约模型。目的是解释有限长度、多期合同的现象。它表明如何昂贵的信息获取可以占多期合同的有限长度。比较静态的结果，合同长度如何响应于外生参数，如信息获取成本，也来自。1987年由宾夕法尼亚大学经济系和大坂大学社会经济研究协会版权所有。
A model of optimal contracts between two infinitely-lived parties, a borrower and lender, is presented and analyzed. The objective is to explain the phenomenon of finite-length, multi-period contracts. It is shown how costly information acquisition can account for multi- period contracts which are of bounded length. Comparative-statics results on how contract length responds to exogenous parameters, such as the cost of information acquisition, are also derived. Copyright 1987 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
影响因子：
2.2
作者：
WILLIAMSON, OE
通讯作者：
WILLIAMSON, OE