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- catalog abstract "In construction and procurement contracting, firms typically choose between cost-plus and fixed-priced contracts. While the theoretical literature frames this choice as a tradeoff between incentives and transaction costs, the existing empirical evidence shows only that transaction costs limit the use of fixed-price contracts to environments where the costs of recontracting are not too severe. In contrast, this paper demonstrates that strong incentives are an important advantage of fixed-price contracts.".
- catalog contributor b12064893.
- catalog contributor b12064894.
- catalog created "c2001.".
- catalog date "2001".
- catalog date "c2001.".
- catalog dateCopyrighted "c2001.".
- catalog description "In construction and procurement contracting, firms typically choose between cost-plus and fixed-priced contracts. While the theoretical literature frames this choice as a tradeoff between incentives and transaction costs, the existing empirical evidence shows only that transaction costs limit the use of fixed-price contracts to environments where the costs of recontracting are not too severe. In contrast, this paper demonstrates that strong incentives are an important advantage of fixed-price contracts.".
- catalog description "Includes bibliographical references.".
- catalog extent "33 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; 01-046.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 01-046".
- catalog issued "2001".
- catalog issued "c2001.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Fixed-price contracts as a response to incentive problems : evidence from the offshore drilling industry / Kenneth S. Corts.".
- catalog type "text".