Renegotiation Design and Contract Solutions to the Hold‐Up Problem
综述了关于敲竹杠问题的合同解决方案文献，探讨如何设计最优合同安排以实现有效投资，并论证重新谈判设计仍是实现有效投资的必要条件。
Abstract This paper surveys the literature on contractual solutions to the hold‐up problem which has addressed the issue of how to design the optimal contractual arrangement to achieve efficient investments in the presence of contract incompleteness. Although scholars have argued that renegotiation design is a necessary condition to avoid the hold‐up problem, some recent papers have seriously questioned this condition. We mainly show that renegotiation design remains a necessary condition to implement efficient investments.