NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Hold-up, Asset Ownership, and Reference Points

Oliver Hart

NBER Working Paper No. 13540
Issued in October 2007

---- Acknowledgements -----

I am grateful to John Moore for discussions on some of the elements of this paper, and to Bob Gibbons and Birger Wernerfelt for many helpful conversations. I would also like to thank Mathias Dewatripont, Florian Englmaier, Rob Gertner, Louis Kaplow, Josh Lerner, Bentley MacLeod, and Jeremy Stein for useful comments, and to Georgy Egorov for excellent research assistance. Financial support from the U. S. National Science Foundation through the National Bureau of Economic Research is gratefully acknowledged. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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