strategic bargaining and vertical separation 2098462

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1、StrategicBargainingandVerticalSeparationAuthor(s):BruceR.LyonsandKhalidSekkatSource:TheJournalofIndustrialEconomics,Vol.39,No.5(Sep.,1991),pp.577-593Publishedby:WileyStableURL:http://www.jstor.org/stable/2098462.Accessed:13/12/201307:47YouruseoftheJSTORarchiveindicatesyouracceptanceoftheTerm

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4、ndConditionsTHEJOURNALOFINDUSTRIALECONOMICS0022-1821$2.00VolumeXXXIXSeptember1991No.5STRATEGICBARGAININGANDVERTICALSEPARATION*BRUCER.LYONSandKHALIDSEKKATCurrenttheoriesoftheverticallimitstofirmsizeemphasisetheconsequencesofopportunisticbehaviourbymanagers.Weintroduceopportunisticwagesettingb

5、ylabourunionsandtracetheimplicationsforprofitandinvestmentinspecificassets.Althoughsubcontractingtoanindependentsupplierleavestheentrepreneurwithareducedshareofthesurplus,heisabletopassontheresponsibilityformakingcertaininvestments.Twosignificantresultsarethateithersubcontractingorverticalin

6、tegrationmaybeprivatelypreferredyetsociallyinefficient;andthereisnostraightforwardrelationshipbetweenorganisationalchoiceandspecificcapitalintensity.I.INTRODUCTIONITISnowwidelyacceptedthattheboundariesofthefirmaredeterminedbytransactioncosts.Spotmarkettransactionsareunabletoattenuateopportun

7、isticbehaviourandformallegalcontractsareoftenlittlebetterbecausetheyrequirepotentialcontingenciestobefullyspecifiedandactionsverifiableinlaw.Inasmuchasactionsarenotverifiable,orpotentialcontingenciesaretoocomplex,thenthelawisineffectiveandthefirmmi