Competition, governance, and relationship‐specific investments: Theory and implications for strategy
使用双形式博弈模型，研究竞争如何影响供应商选择生产通用产品或关系专用产品，以及何种治理安排能促进关系专用性资产投资。
This paper uses biform games to examine the endogenous decision to invest in relationship‐specific assets. It addresses the questions of how competition affects suppliers' decisions to produce a general‐purpose product or a relationship‐specific product for a buyer and under what circumstances a governance arrangement designed to share investment costs between the transacting parties increases the investment in relationship‐specific assets. We offer a balanced perspective that emphasizes both the superior transaction value of relationship‐specific products and their high transaction costs while considering the competition effects generated by alternative investment plans. The model and its extensions generate new insights into investment decisions regarding relationship‐specific assets . Copyright © 2013 John Wiley & Sons, Ltd.