search query: @indexterm forestry industry / total: 157
reference: 97 / 157
| Author: | Leffler, K. B. Rucker, R. R. |
| Title: | Transactions costs and the efficient organization of production: a study of timber-harvesting contrasts |
| Journal: | Journal of Consumer Research
1991 : OCT, VOL. 99:5, p.1060-1087 |
| Index terms: | TIMBER TRADE FORESTRY INDUSTRY CONTRACTS PRODUCTION MANAGEMENT COSTS |
| Language: | eng |
| Abstract: | A transaction costs framework is developed to explain the choice between lump-sum and per unit payment provision in private timber-harvesting contracts. Predictions about which contract type minimizes the transaction costs of presale measurement and contract enforcement and monitoring are derived and tested using private timber sales contracts from North Carolina. The empirical results provide strong support for the transaction costs approach and also reject several predictions from a risk-based model. The transaction costs framewokr also provides insights into the choice between negotiated and competitive sales producers. |
SCIMA