Ambiguity aversion and cost-plus procurement contracts
This paper provides a positive theory about the contractual form of procurement contracts under cost uncertainty. However, while the cost of manufacture is uncertain it can be reduced by an amount depending on the extent of effort exerted by the agent. The effort exerted by the agent is not verifiab...
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| Médium: | Working paper |
| Vydáno: |
University of Oxford
2002
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