The «delay» of specific investments as the temporal analogue of underinvestment

The «delay» of specific investments as the temporal analogue of underinvestment

The paper attempts to draw parallels between underinvestment to specific assets and its "temporary" modification, which may be denoted as "delay". It discusses possible reasons and consequences of delay in the implementation of specific investments and considers the two variants...

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Main Authors: Dzagurova Nataliya, B., Nevidomskaya Maria A.
Format: Article
Language:English
Published: Ltd. "Humanities Perspectives" 2015-06-01
Series:Журнал институциональных исследований
Subjects:
specific investments
underinvestment
delay
Online Access:http://www.hjournal.ru/files/JIS_7_3/JIS_7.3_4.pdf
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spelling doaj-412c2b8c16b54778ab3e42dfe42addf82021-04-02T10:27:18ZengLtd. "Humanities Perspectives"Журнал институциональных исследований2076-62972412-60392015-06-01769110.17835/2076-6297.2015.7.3.076-091The «delay» of specific investments as the temporal analogue of underinvestmentDzagurova Nataliya, B.0Nevidomskaya Maria A. 1National Research University - Higher School of EconomicsNational Research University - Higher School of EconomicsThe paper attempts to draw parallels between underinvestment to specific assets and its "temporary" modification, which may be denoted as "delay". It discusses possible reasons and consequences of delay in the implementation of specific investments and considers the two variants of delay depending on whether the time of investment observed by the parties of the transaction. It shown that the basic model of underinvestment, which can be used when building the temporary version if unobserved investment, can be used the model of O. Hart, while the analysis of the delay in the observability of investment hasn’t direct analogues and requires the usage of the theory of games with incomplete information.http://www.hjournal.ru/files/JIS_7_3/JIS_7.3_4.pdfspecific investmentsunderinvestmentdelay
collection DOAJ
language English
format Article
sources DOAJ
author Dzagurova Nataliya, B.
Nevidomskaya Maria A.
spellingShingle Dzagurova Nataliya, B.
Nevidomskaya Maria A.
The «delay» of specific investments as the temporal analogue of underinvestment
Журнал институциональных исследований
specific investments
underinvestment
delay
author_facet Dzagurova Nataliya, B.
Nevidomskaya Maria A.
author_sort Dzagurova Nataliya, B.
title The «delay» of specific investments as the temporal analogue of underinvestment
title_short The «delay» of specific investments as the temporal analogue of underinvestment
title_full The «delay» of specific investments as the temporal analogue of underinvestment
title_fullStr The «delay» of specific investments as the temporal analogue of underinvestment
title_full_unstemmed The «delay» of specific investments as the temporal analogue of underinvestment
title_sort «delay» of specific investments as the temporal analogue of underinvestment
publisher Ltd. "Humanities Perspectives"
series Журнал институциональных исследований
issn 2076-6297
2412-6039
publishDate 2015-06-01
description The paper attempts to draw parallels between underinvestment to specific assets and its "temporary" modification, which may be denoted as "delay". It discusses possible reasons and consequences of delay in the implementation of specific investments and considers the two variants of delay depending on whether the time of investment observed by the parties of the transaction. It shown that the basic model of underinvestment, which can be used when building the temporary version if unobserved investment, can be used the model of O. Hart, while the analysis of the delay in the observability of investment hasn’t direct analogues and requires the usage of the theory of games with incomplete information.
topic specific investments
underinvestment
delay
url http://www.hjournal.ru/files/JIS_7_3/JIS_7.3_4.pdf
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AT dzagurovanataliyab delayofspecificinvestmentsasthetemporalanalogueofunderinvestment
AT nevidomskayamariaa delayofspecificinvestmentsasthetemporalanalogueofunderinvestment
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