Essays on optimal contracts and renegotiation [Elektronische Ressource] / vorgelegt von Susanne Ohlendorf

Essays on Optimal Contracts andRenegotiation.Inaugural-Dissertationzur Erlangung des Grades eines Doktorsder Wirtschafts- und Gesellschaftswissenschaftendurch dieRechts- und Staatswissenschaftliche Fakulta¨tder Rheinischen Friedrich-Wilhelms-Universita¨t Bonnvorgelegt vonSusanne Ohlendorfaus Bonn.Bonn 2009Dekan: Prof. Dr. Christian HillgruberErstreferent: Prof. Dr. Urs SchweizerZweitreferent: Prof. Paul Heidhues, PhDTag der mundl¨ ichen Pruf¨ ung: 20.7.2009Diese Dissertation ist auf dem Hochschulschriftenserver der ULB Bonn(http://hss.ulb.uni-bonn.de/diss online) elektronisch publiziert.AbstractContract theory studies the incentives and contractual outcomes in eco-nomic interactions, and how they are influenced by given institutions andinformation structures. On an abstract level, a contractual relationship ischaracterized by the costs and obstacles that have to be faced in order tocarry out the desired economic transaction. Such transaction costs includefor example search and information cost, bargaining and contracting costs,and enforcement costs. Depending on the type of transaction costs, optimalcontracts will take one form or another. To try to understand economic inter-actions at this level of detail is of course an enormous undertaking, to whichthis thesis makes a small contribution, focusing on the effect of renegotiationon the form of contracts.