Holmstrom tirole 2011 dodge
Bengt Holmstrom and Jean Tirole ; Cambridge: MIT Press. A Theory of Firm Scope Hart, Oliver, and Bengt Holmstrom , Quarterly Journal of Economics, (2): Nordics in Global Crisis: Vulnerability and resilience Thorvaldur Gylfason, Bengt Holmstrom, Sixten Korkman, Hans Tson Söderström and Vesa Vihriälä. assessment in Holmstrom and Tirole () that market funding is fraught with a risk of discontinuation, i.e., the inability or unwillingness of private investors to pre-commit to provide funding in the future may threaten a breakdown of funding, with large systemic implications. • Holmstrom and Tirole () – “Finance as you go” may be prevented by market failures due to asymmetric information and other imperfections – The alternative is “liquidity hoarding” where firms hold assets to enable them to survive and keep investing • Farhi and Tirole () – Strategic complementarities in the choice of.