"This paper provides new theoretical clarification and empirical evidence about relational contracts written for the exploitation of oil and gas reservoirs in the United States and Canada. To mitigate common pool losses, oil fields often are developed under unit operating agreements. These...

This paper extends the existing theory and empirical investigation of unitization contracts. It highlights the importance of incentive-compatibility and self-enforcement and the bargaining problems faced in achieving viable, long-term contracts. We argue that only if the parties to a unitization...

This paper extends the existing theory and empirical investigation of unitization contracts. It highlights the importance of incentive-compatibility and self-enforcement and the bargaining problems faced in achieving viable, long-term contracts. We argue that only if the parties to a unitization...