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| Author: | Sherry, E. F. Teece, D. J. |
| Title: | Contractual hazards and long-term contracting: a TCE view from the petroleum industry |
| Journal: | Industrial and Corporate Change
2004 : DEC, VOL. 13:6, p. 931-951 |
| Index terms: | Economic analysis Petroleum industry Transaction costs |
| Language: | eng |
| Abstract: | This paper uses transaction cost economics (TCE) and economic analysis to examine the provisions of a long-term multi-million-dollar contract in the petroleum industry. Various TCE-based and related economic concerns about dealing with information impactedness and restricting the scope for opportunistic behaviour affected the choice of contractual provisions. |
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