Check if you have access through your login credentials or your institution. In writing this Introduction, we have drawn very heavily on the chapters
Check if you have access through your login credentials or your institution. In writing this Introduction, we have drawn very heavily on the chapters of the Handbook. This will be evident from the extent of cross-references, although we have tried to stop short of the point at which such references become tedious to the reader. We are most grateful to macho stadler an introduction to the economics of information pdf following for their comments on the first draft of the Introduction: Sam Bowles, Jim Davies, John Flemming, John Micklewright, Christian Morrisson, Sherwin Rosen, Tony Shorrocks and Gert Wagner.
None of them should be held responsible for errors or for the opinions expressed. 2000 Published by Elsevier B. The amount of oil and gas processing capacity required to meet demand during the next 20 years is more than twice the amount realised during the last decades. We examine the characteristics of LECPs, demand and supply of the contracting market and the strategies traditionally adopted by owners to contract out the development and implementation of these projects to ECs.
Contract theory, particularly the economics of information on LECPs, indicates how alternative contracting strategies can be used to overcome economic inefficiencies. The effective use of these alternative strategies requires increased owner involvement and their effectiveness is contingent upon owner competency and ECs acting as the owner’s agent rather than its adversary. This will require an organisational and behavioural change process for both owners and ECs. Please forward this error screen to sharedip-1666228125. Check if you have access through your login credentials or your institution.