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Oliver Hart's Clarendon Lectures are an important contribution to contact theory as it is developing in economic analysis, and especially in the context of the firm. He starts by developing a general model of the firm, and then analyses in greater depth the financial structure of firms, debt collecting and bankruptcy. The book will interest teachers, graduate students and advanced students in microeconomics, the theory of the firm, industrial organization and finance.
About the author
Oliver Hart has written for the Wall Street Journal and the Financial Times as well as contributing to numerous refereed journals. He is currently a member of the Econometric Society and has taught at Harvard, the LSE, MIT, Exeter and Cambridge Universities among others.
Summary
Oliver Hart's 'Clarendon Lectures' are a contribution to contact theory as it is developing in economic analysis, and especially in the context of the firm. He starts by developing a general model of the firm, and then analyses in greater depth the financial structure of firms, debt collecting and bankruptcy. T
Additional text
Essential reading for any economics or finance Ph.D. student interested in corporate finance ... provides an excellent exposition of the incomplete contracts approach to the theory of the firm ... it is a fine survey of the author's contributions to the theory of firm boundaries and financial structure. As such, I commend it highly.
