In the years that have followed the publication of Grossman and Hart’s seminal paper “The Costs and the Benefits of Ownership: A Theory of Vertical and Lateral Integration." we have witnessed an explosion of literature on incomplete contracts, in areas as diverse as industrial organization, international trade and finance. On the occasion of the 25th anniversary, we have organized this conference in Brussels from June 24 to 26, 2011, to discuss the achievements of this literature and its future directions.
--Philippe Aghion, Mathias Dewatripont, Patrick Legros, and Luigi Zingales
