provisions of oilfield contracts in Malaysia. This paper seeks to analyse the deficiencies of the risk allocation provisions of …The unequal bargaining power of the parties in the oil and gas industry has lead to the imbalanced contractual risk … allocation in oilfield contracts in Malaysia. In this regard, there is a prospect that the operators pass an unfair share of the …

. Pollution levels allowed under Coasean contracts then in general depend on agents' risk appetites, and on the initial … institutions that allocate risks, nor from the financial institutions that facilitate risk transfer. In particular, improvements in … environmental risk markets generally induce greater levels of pollution …

We relate the design of contract law to the process of development. In this paper, contract law defines which private … levels of effort and trading among agents. The solution to this problem requires a social contract which meets two conditions …: (i) an economywide delegate (judge) responsible for the enforcement of the social contract and (ii) a set of non …

about the asset? How do the disclosure rules of contract law influence the investigation decision? Shavell (1994) showed …-disclosure rule, which requires disclosure of material information, but only after the contract is concluded. We show that this rule … can be more efficient than both voluntary disclosure and mandatory (pre-contract) disclosure …