Under central planning, many firms relied on a single supplier for critical inputs. Transition has led to decentralized bargaining between suppliers and buyers. Under incomplete contracts or asymmetric information, bargaining may inefficiently break down, and if chains of production link many specia...
|Published in:||The Quarterly Journal of Economics, Vol. 112, No. 4 (1997), p. 1091-1126|
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|Item Description:||Copyright: Copyright 1997 The President and Fellows of Harvard College and the Massachusetts Institute of Technology|
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