Contract Duration and Relationship-Specific Investments¶
Joskow, P. L. (1987). Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Domain-specific¶
- Hold-up Problem
- Joskow found that the parties systematically responded to this exposure by writing longer-term contracts: the greater the relationship-specificity of the investment, the longer the contract duration used to govern it.
This sourceThe finding, from 277 coal supply contracts, that parties commit to longer contract durations and rely less on repeated bargaining when relationship-specific investments matter more.
SupportedVerified against the source
- Joskow found that the parties systematically responded to this exposure by writing longer-term contracts: the greater the relationship-specificity of the investment, the longer the contract duration used to govern it.
Verification¶
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Registry ID ref:e691b3ffddbc · see in the full table