The incomplete contract and asset specificity cause the hold-up problem in transaction, which brings about the rising of production cost and transaction cost.
不完全契约和资产专用性引致了交易中的敲竹杠问题，带来生产成本和交易成本的上升。
The problem is that the transistors used to make logic circuits hold their electronic state, and therefore any data they contain, only when powered up.
问题是，用来制造逻辑电路的晶体管中保留着它们的电子态，因此当这些晶体管通电的时候，它们会包含任何可能的数据。
But that happens a lot, and we don't know if it was a paperwork problem or an intentional hold-up.
但这种事情常常发生，我们不知道这是由于文书问题，还是有意耽搁。
Thus, joint asset ownership not only can resolve the problem of physical capital specificity, but also is an effective way to resolve the hold up problem of human capital.
因此，联合所有权不仅可以解决物质资本专用性问题，也是解决人力资本套牢问题的有效途经。
Vertical integration can effectively resolve the problem of physical capital specificity, but it is helpless to resolve the hold up problem of human capital specificity.
纵向一体化可以很好地解决物质资本的专用性问题，然而对人力资本专用性造成的“套牢”无能为力。
Vertical integration can effectively resolve the problem of physical capital specificity, but it is helpless to resolve the hold up problem of human capital specificity.
纵向一体化可以很好地解决物质资本的专用性问题，然而对人力资本专用性造成的“套牢”无能为力。
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