【主讲】Dilip Mookherjee (教授，Boston University)
【主题】Bypassing Intermediaries via Vertical Integration, A Transaction-Cost-Based Theory, joint work with Alberto Motta and Masatoshi Tsumagari
【时间】2018年4月25日 (周三) 15：30-17：00
【地点】上海财经大学经济学院楼701室
【语言】英文
【摘要】We provide a theory of vertical integration motivated to bypass intermediaries and contract directly with workers or customers in order to reduce double marginalization of rents. Non-integration results in inefficiencies that cannot be overcome via sophisticated contract design if supplier costs are nonverifiable, owing either to weak accounting systems or collusion between intermediaries and lower layer agents. Vertical integration generate benefits by lowering these inefficiencies, but incur bureaucratic costs in order to control intrafirm collusion. We discuss predictions of our theory concerning determinants of benefits and costs of integration, compare these with Transaction Cost and Property Rights based theories, and with available empirical evidence.
