Giné, Xavier; Jacoby, Hanan - In: Quantitative economics : QE ; journal of the … 11 (2020) 1, pp. 399-435
‐term contracts and the ex ante inefficiency of spot contracts. We use unique data on both payoff uncertainty and relationship‐specific … investment collected from a large sample of well‐owners in Andhra Pradesh to estimate the model's parameters. Our estimates imply …