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。

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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。

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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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