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Cited by 425

The DOI matches its Crossref record; 8 of the 8 references it cites were found in a registry or an index.

Contract Renegotiation and Coasian Dynamics

Open access
Hart, Oliver D., Tirole, Jean·1988·The Review of Economic Studies
DOI 10.2307/2297403
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Abstract

Consider a long-term relationship between a seller and a buyer whose valuation (for a per-period service or a durable good) is private. As trade progresses, the valuation will be partially revealed, and it may be impossible for the parties to commit ex-ante not to take advantage of this. We analyse this situation first by supposing that the parties can sign a sequence of short-term contracts; and secondly by supposing that they can sign a long-term contract, but cannot commit not to renegotiate it later. We find a close relationship in the second case between the optimal long-term contract and the non-commitment outcome in the standard Coasian durable good model. Our results also have implications for hidden-information principal-agent models.

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Metadata

Authors
Hart, O. D., & Tirole, J.
Venue
The Review of Economic Studies
Publisher
Oxford University Press (OUP)
Published
1988-10
Volume
55
Issue
4
Pages
509
ISSN
0034-6527 (ISSN-L)
DOI
10.2307/2297403
OpenAlex
W2020454534
Cited by
425
References
8
FWCI
17.39
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Contract Renegotiation and Coasian Dynamics. https://app.cochat.ai/papers/10.2307/2297403
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Hart, O. D., & Tirole, J. (1988). Contract Renegotiation and Coasian Dynamics. The Review of Economic Studies. https://doi.org/10.2307/2297403

Data sources

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.