Publication: Commitment with renegotiable debt contracts and verifiable cash flow
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Abstract
We study a Buyer-Seller relationship with one-sided relationship-specific investment. Debt commits the Seller not to trade at a low price even though it is renegotiable, and the cash flow is verifiable.
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Elsevier Science Sa
Subject
Economics
Citation
Has Part
Source
Economics Letters
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DOI
10.1016/j.econlet.2007.06.035