The hold-up problem, a form of opportunism, has been the subject of much
investigation by researchers in fields such as economics or accounting. Despite
contractual protections, hold-ups still occur, and firms and researchers continue
to search for ways to avoid them and to encourage firms to make investments
that are socially optimal and specific to the relationship at hand. In this paper, I
review, synthesize, and classify analytical and empirical research aimed at
identifying and testing fomtal and infonnal hold-up mitigating mechanisms. as
well as suggest avenues for future research. My study integrates various
streams of research and is organized around strategic decision-making, that is,
decisions about organizational design, inter- and intra-firm trade, and resource
allocation.