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Relationship building : conflict and project choice over time
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Halac, Marina (2013) Relationship building : conflict and project choice over time. Journal of Law, Economics, and Organization, 30 (4). pp. 683-708. doi:10.1093/jleo/ewt009 ISSN 8756-6222.
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Official URL: http://dx.doi.org/10.1093/jleo/ewt009
Abstract
The question of how to develop a relationship is central to business and management. This is especially true when the environment is characterized by informational asymmetries and subjectivity, as for example in management consulting. This article presents a model of relationship building inspired by the consultant–client relationship. Consistent with the evidence, it shows that consultants and clients optimally start with low-risk, low-return projects, and move up to high-risk, high-return projects over time as they accumulate relationship capital. The probability of conflict and breakup is decreasing over the course of the relationship, but may jump when a higher-risk project is adopted (JEL C73, D82, L14).
Item Type: | Journal Article | ||||||
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Divisions: | Faculty of Social Sciences > Economics | ||||||
Journal or Publication Title: | Journal of Law, Economics, and Organization | ||||||
Publisher: | Oxford University Press | ||||||
ISSN: | 8756-6222 | ||||||
Official Date: | 8 August 2013 | ||||||
Dates: |
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Volume: | 30 | ||||||
Number: | 4 | ||||||
Page Range: | pp. 683-708 | ||||||
DOI: | 10.1093/jleo/ewt009 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access |
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