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All HBS Web
(21)
- Research (11)
- Faculty Publications (3)
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- 2020
- Working Paper
Contract Duration and the Costs of Market Transactions
By: Alexander MacKay
The optimal duration of a supply contract balances the costs of reselecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tradeoff and...
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Keywords:
Vertical Relationships;
Transaction Costs;
Contract Duration;
Identification;
Supply Chain;
Cost;
Contracts;
Auctions;
Mathematical Methods
MacKay, Alexander. "Contract Duration and the Costs of Market Transactions." Harvard Business School Working Paper, No. 18-058, December 2017. (Revised May 2020. Direct download.)
- August 2022
- Article
Contract Duration and the Costs of Market Transactions
By: Alexander MacKay
The optimal duration of a supply contract balances the costs of reselecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tradeoff and...
View Details
Keywords:
Supply Contracts;
Intermediate Goods;
Switching Costs;
Vertical Relationships;
Transaction Costs;
Contract Duration;
Identification;
Supply Chain;
Cost;
Contracts;
Auctions;
Mathematical Methods
MacKay, Alexander. "Contract Duration and the Costs of Market Transactions." American Economic Journal: Microeconomics 14, no. 3 (August 2022): 164–212.
- 23 Jan 2018
- Working Paper Summaries
Transaction Costs and the Duration of Contracts
Keywords:
by Alexander MacKay
- 31 Jan 2023
- Op-Ed
Can Insurance Technology Solve the Uninsured Driver Problem?
because they can’t afford the insurance contracts offered by legacy carriers, which often require purchasing several months of coverage up front. “Insurance technology can enable cash-strapped drivers to access shorter and more affordable...
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- 16 Jan 2018
- First Look
First Look at New Research and Ideas, January 16, 2018
candidates. Download working paper: https://pubwww.hbs.edu/faculty/Pages/item.aspx?num=53708 Transaction Costs and the Duration of Contracts By: MacKay, Alexander Abstract—The View Details
Keywords:
Sean Silverthorne
- 04 Feb 2021
- Research & Ideas
Inside CEOs' Pandemic Worries: Uncertainty, Employees, and Kids
parents. The increased difficulty and risks of traveling separated some CEOs from family. One had to make the difficult decision to “move to a different city to be closer to the employees, [leaving] the family behind.” None in our sample mentioned family View Details
- 03 Oct 2006
- First Look
First Look: October 3, 2006
deliberate and optimal allocations to passive and highly skilled active investment vehicles, and they should eliminate commitments to structurally underperforming long-only active managers, unless the evidence of ability to generate alpha (rare) is clear, and the View Details
Keywords:
Sean Silverthorne
- 12 Apr 2016
- First Look
April 12, 2016
competitive imitation. Make it tough for rivals to copy your product-to-platform strategy: consider creating proprietary standards, using exclusivity contracts and erecting other barriers to competition. Publisher's link:...
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Keywords:
Sean Silverthorne
- 10 Apr 2012
- First Look
First Look: April 10
rescue of 33 Chilean miners. More and more people in nearly every industry now work on teams that vary in duration and have constantly shifting membership. Teaming presents technical and interpersonal challenges: people must get up to...
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Keywords:
Carmen Nobel
- 08 Jul 2014
- First Look
First Look: July 8
findings. First, non-financial rewards are more effective at eliciting effort than either financial rewards or the volunteer contract and are also the most cost-effective of the four schemes. Second, non-financial rewards leverage...
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Keywords:
Carmen Nobel
- 24 Apr 2020
- Op-Ed
Lessons from the NFL: Virtual Hiring, Leadership, Building Teams and COVID-19
Teams draft channel. All parties will also be dialled into a conference call that will last the duration of the draft. Picks will be announced over the call. If the Microsoft Teams channel is not working, teams can also use the conference...
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