Oliver Hart

Research topics

• Economic theories and models · 2 papers
• Auction Theory and Applications · 1 paper
• Law, Economics, and Judicial Systems · 1 paper
• Corporate Finance and Governance · 1 paper
• Banking stability, regulation, efficiency · 1 paper

Frequent co-authors

• Sanford J. Grossman · 1 paper
• John Hardman Moore · 1 paper

Papers

1. The Costs and Benefits of Ownership: A Theory of Vertical and Lateral IntegrationJournal of Political Economy · 1986 · 9,662 citations

   Our theory of costly contracts emphasizes the contractual rights can by of two types: specific rights and residual rights. When it is costly to list all specific rights over assets in the contract, it may be optimal to let one…

2. Property Rights and the Nature of the FirmJournal of Political Economy · 1990 · 5,541 citations

   This paper provides a framework for addressing the question of when transactions should be carried out within a firm and when through the market. Following Grossman and Hart, we identify a firm with the assets that its owners control. We…