Pegging input prices to output prices—A special price adjustment clause in long-term CO2 sales contracts
Author
Abstract
Suggested Citation
DOI: 10.1016/j.eneco.2021.105619
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Eduardo Schwartz & James E. Smith, 2000. "Short-Term Variations and Long-Term Dynamics in Commodity Prices," Management Science, INFORMS, vol. 46(7), pages 893-911, July.
- Hayne E. Leland & Robert A. Meyer, 1976. "Monopoly Pricing Structures with Imperfect Discrimination," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 449-462, Autumn.
- Adelman, M A, 1990. "Mineral Depletion, with Special Reference to Petroleum," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 1-10, February.
- Richard Schmalensee, 1981.
"Monopolistic Two-Part Pricing Arrangements,"
Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 445-466, Autumn.
- Schmalensee, Richard., 1980. "Monopolistic two-part pricing arrangements," Working papers 1105-80., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Leach, Andrew & Mason, Charles F. & Veld, Klaas van ‘t, 2011.
"Co-optimization of enhanced oil recovery and carbon sequestration,"
Resource and Energy Economics, Elsevier, vol. 33(4), pages 893-912.
- Andrew Leach & Charles F. Mason & Klaas van't Veld, 2009. "Co-optimization of Enhanced Oil Recovery and Carbon Sequestration," NBER Working Papers 15035, National Bureau of Economic Research, Inc.
- Oliver Hart, 2009. "Hold-up, Asset Ownership, and Reference Points," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 124(1), pages 267-300.
- Oliver Hart & John Moore, 2008.
"Contracts as Reference Points,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(1), pages 1-48.
- Oliver Hart & John Moore, 2006. "Contracts as Reference Points," NBER Working Papers 12706, National Bureau of Economic Research, Inc.
- Oliver Hart & John Moore, 2006. "Contracts as Reference Points," Edinburgh School of Economics Discussion Paper Series 170, Edinburgh School of Economics, University of Edinburgh.
- Walter Y. Oi, 1971. "A Disneyland Dilemma: Two-Part Tariffs for a Mickey Mouse Monopoly," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 85(1), pages 77-96.
- Morris A. Adelman, 1993. "Modelling World Oil Supply," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 1-32.
- Goldberg, Victor P & Erickson, John R, 1987. "Quantity and Price Adjustment in Long-term Contracts: A Case Study of Petroleum Coke," Journal of Law and Economics, University of Chicago Press, vol. 30(2), pages 369-398, October.
- Thompson, Andrew C., 2001. "The Hotelling Principle, backwardation of futures prices and the values of developed petroleum reserves -- the production constraint hypothesis," Resource and Energy Economics, Elsevier, vol. 23(2), pages 133-156, April.
- Wang, Xiao & van ’t Veld, Klaas & Marcy, Peter & Huzurbazar, Snehalata & Alvarado, Vladimir, 2018. "Economic co-optimization of oil recovery and CO2 sequestration," Applied Energy, Elsevier, vol. 222(C), pages 132-147.
- Joskow, Paul L, 1988.
"Price Adjustment in Long-term Contracts: The Case of Coal,"
Journal of Law and Economics, University of Chicago Press, vol. 31(1), pages 47-83, April.
- Paul L. Joskow, 1987. "Price Adjustment in Long Term Contracts: The Case of Coal," Working papers 444, Massachusetts Institute of Technology (MIT), Department of Economics.
- Ernst Fehr & Oliver Hart & Christian Zehnder, 2011.
"Contracts as Reference Points--Experimental Evidence,"
American Economic Review, American Economic Association, vol. 101(2), pages 493-525, April.
- Ernst Fehr & Oliver D. Hart & Christian Zehnder, 2008. "Contracts as Reference Points - Experimental Evidence," NBER Working Papers 14501, National Bureau of Economic Research, Inc.
- Fehr, Ernst & Hart, Oliver & Zehnder, Christian, 2008. "Contracts as Reference Points: Experimental Evidence," IZA Discussion Papers 3889, Institute of Labor Economics (IZA).
- Ernst Fehr & Oliver Hart & Christian Zehnder, 2008. "Contracts as reference points � experimental evidence," IEW - Working Papers 393, Institute for Empirical Research in Economics - University of Zurich.
- Allen, Douglas W & Lueck, Dean, 1999. "The Role of Risk in Contract Choice," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(3), pages 704-736, October.
- Davis, Graham A & Cairns, Robert D, 1999. "Valuing Petroleum Reserves Using Current Net Price," Economic Inquiry, Western Economic Association International, vol. 37(2), pages 295-311, April.
- Mark Agerton, 2017. "Global LNG Pricing Terms and Revisions: An Empirical Analysis," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
- Hart, Oliver D., 2009. "Hold-Up, Asset Ownership, and Reference Points," Scholarly Articles 34728601, Harvard University Department of Economics.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Lezhen Wu & Xiaole Wu & Yu Zhou, 2023. "Commitment strategies and inventory decisions under supply disruption risk," Production and Operations Management, Production and Operations Management Society, vol. 32(8), pages 2619-2637, August.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Gine,Xavier & Jacoby,Hanan G. & Gine,Xavier & Jacoby,Hanan G., 2016. "Markets, contracts, and uncertainty in a groundwater economy," Policy Research Working Paper Series 7694, The World Bank.
- Olivier Meier & Aurélie Sannajust, 0. "The smart contract revolution: a solution for the holdup problem?," Small Business Economics, Springer, vol. 0, pages 1-16.
- Halonen-Akatwijuka, Maija & Pafilis, Evagelos, 2020.
"Common ownership of public goods,"
Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 555-578.
- Maija Halonen-Akatwijuka & Evagelos Pafilis, 2018. "Common Ownership of Public Goods," Bristol Economics Discussion Papers 18/700, School of Economics, University of Bristol, UK.
- Bernard Baudry & Virgile Chassagnon, 2012.
"The vertical network organization as a specific governance structure: what are the challenges for incomplete contracts theories and what are the theoretical implications for the boundaries of the (hub,"
Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 16(2), pages 285-303, May.
- Bernard Baudry & Virgile Chassagnon, 2012. "The vertical network organization as a specific governance structure : what are the challenges for incomplete contracts theories and what are the theoretical implications for the boundaries of the (hu," Post-Print halshs-00683231, HAL.
- Schmitz, Patrick W., 2010.
"Contractual solutions to hold-up problems with quality uncertainty and unobservable investments,"
Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 807-816, September.
- Schmitz, Patrick W., 2009. "Contractual solutions to hold-up problems with quality uncertainty and unobservable investments," CEPR Discussion Papers 7584, C.E.P.R. Discussion Papers.
- Schmitz, Patrick W., 2010. "On contractual solutions to hold-up problems with quality uncertainty and unobservable investments," MPRA Paper 23157, University Library of Munich, Germany.
- Bicer, Isik & Hagspiel, Verena, 2016. "Valuing quantity flexibility under supply chain disintermediation risk," International Journal of Production Economics, Elsevier, vol. 180(C), pages 1-15.
- Fabian Herweg & Klaus M. Schmidt, 2015.
"Loss Aversion and Inefficient Renegotiation,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(1), pages 297-332.
- Schmidt, Klaus & Herweg, Fabian, 2014. "Loss Aversion and Inefficient Renegotiation," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100485, Verein für Socialpolitik / German Economic Association.
- Maija Halonen-Akatwijuka & Oliver Hart, 2020.
"Continuing Contracts [“Firms’ Use of Outside Contractors: Theory and Evidence,”],"
The Journal of Law, Economics, and Organization, Oxford University Press, vol. 36(2), pages 284-313.
- Maija Halonen-Akatwijuka & Oliver Hart, 2015. "Continuing Contracts," Bristol Economics Discussion Papers 15/665, School of Economics, University of Bristol, UK, revised 12 Oct 2016.
- Mathias Erlei & Wiebke Roß, 2013.
"Bounded Rationality as an Essential Component of the Holdup Problem,"
TUC Working Papers in Economics
0009, Abteilung für Volkswirtschaftslehre, Technische Universität Clausthal (Department of Economics, Technical University Clausthal).
- Erlei, Mathias & Roß, Wiebke, 2015. "Bounded rationality as an essential component of the holdup problem," Beiträge zur Jahrestagung 2015 (Bayreuth) 140886, Verein für Socialpolitik, Ausschuss für Wirtschaftssysteme und Institutionenökonomik.
- Müller, Daniel & Schmitz, Patrick W., 2016.
"Transaction costs and the property rights approach to the theory of the firm,"
European Economic Review, Elsevier, vol. 87(C), pages 92-107.
- Schmitz, Patrick W., 2014. "Transaction costs and the property rights approach to the theory of the firm," CEPR Discussion Papers 10207, C.E.P.R. Discussion Papers.
- Müller, Daniel & Schmitz, Patrick W., 2016. "Transaction costs and the property rights approach to the theory of the firm," MPRA Paper 90790, University Library of Munich, Germany.
- Halonen-Akatwijuka, Maija, 2012.
"Nature of human capital, technology and ownership of public goods,"
Journal of Public Economics, Elsevier, vol. 96(11), pages 939-945.
- Maija Halonen, 2010. "Nature of human capital, technology and ownership of public goods," The Centre for Market and Public Organisation 10/243, The Centre for Market and Public Organisation, University of Bristol, UK.
- Schmidt, Klaus, 2017. "The 2016 Nobel Memorial Prize in Contract Theory," Rationality and Competition Discussion Paper Series 19, CRC TRR 190 Rationality and Competition.
- Aghion, Philippe & Dewatripont, Mathias & Legros, Patrick & Zingales, Luigi (ed.), 2016. "The Impact of Incomplete Contracts on Economics," OUP Catalogue, Oxford University Press, number 9780199826216.
- Fu, Tong, 2020. "The dilemma of government intervention in a firm's financing: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 71(C).
- Schmitz, Patrick W., 2016.
"The negotiators who knew too much: Transaction costs and incomplete information,"
Economics Letters, Elsevier, vol. 145(C), pages 33-37.
- Schmitz, Patrick W., 2016. "The Negotiators Who Knew Too Much: Transaction Costs and Incomplete Information," MPRA Paper 91458, University Library of Munich, Germany.
- Schmitz, Patrick W., 2016. "The Negotiators Who Knew Too Much: Transaction Costs and Incomplete Information," CEPR Discussion Papers 11276, C.E.P.R. Discussion Papers.
- David Frydlinger & Oliver D. Hart, 2019. "Overcoming Contractual Incompleteness: The Role of Guiding Principles," NBER Working Papers 26245, National Bureau of Economic Research, Inc.
- Herweg, Fabian & Karle, Heiko & Müller, Daniel, 2018.
"Incomplete contracting, renegotiation, and expectation-based loss aversion,"
Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 176-201.
- Herweg, Fabian & Karle, Heiko & Müller, Daniel, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 454, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Herweg, Fabian & Karle, Heiko & Müller, Daniel, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100473, Verein für Socialpolitik / German Economic Association.
- Karle, Heiko & Herweg, Fabian, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," CEPR Discussion Papers 9874, C.E.P.R. Discussion Papers.
- Fabian Herweg & Heiko Karle & Daniel Müller, 2014. "Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion," CESifo Working Paper Series 4687, CESifo.
- Hans B. Christensen & Valeri V. Nikolaev & Regina Wittenberg‐Moerman, 2016. "Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective," Journal of Accounting Research, Wiley Blackwell, vol. 54(2), pages 397-435, May.
- Zhang, Xiong, 2020. "Convertible tranche in securitization," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
- Valeria Gattai & Piergiovanna Natale, 2017. "A New Cinderella Story: Joint Ventures And The Property Rights Theory Of The Firm," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 281-302, February.
More about this item
Keywords
Price adjustment clause; Long-term contracts; Enhanced oil recovery; CO2 prices; Oil supply; Price indexing;All these keywords.
JEL classification:
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:eneeco:v:104:y:2021:i:c:s0140988321004813. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eneco .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.