If having firm-driven renegotiations of contracts for infrastructure services is a major concern, efficiency should not be the only consideration in selecting an operator, indeed, consumers may want to award the concession to a less efficient firm if that would reduce the probability of...

Risk shifting and incomplete contracting lie at the heart of the agency relationship inherent in the procurement and financing of large-scale projects such as power plants, oil and gas pipelines, and liquefied natural gas facilities. An investigation of Ras Gas bonds provides empirical evidence...

In the course of third-party logistics (3PL), manufacturing and trading firms outsource complex, customized services and service bundles based on multi-year contracts. These contracts need to be designed according to relationship characteristics and be adjusted to changes that occur during the...