Economic valuation of long-term timber contracts: Empirical evidence from Germany
Author
Abstract
Suggested Citation
DOI: 10.1016/j.forpol.2015.03.003
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
- Du, Julan & Lu, Yi & Tao, Zhigang, 2006. "Why do firms conduct bi-sourcing?," Economics Letters, Elsevier, vol. 92(2), pages 245-249, August.
- Adrien de Hauteclocque & Jean-Michel Glachant, 2009. "Longterm Energy Supply Contracts in European Competition Policy: Fuzzy not Crazy," Working Papers EPRG 0919, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
- 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.
- Diane Dawson & Maria Goddard, 1999. "Long‐term contracts in the NHS: a solution in search of a problem?," Health Economics, John Wiley & Sons, Ltd., vol. 8(8), pages 709-720, December.
- Joskow, Paul L, 1988. "Asset Specificity and the Structure of Vertical Relationships: Empirical Evidence," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 4(1), pages 95-117, Spring.
- Niquidet, Kurt & O'Kelly, Glen, 2010.
"Forest-mill integration: A transaction cost perspective,"
Forest Policy and Economics, Elsevier, vol. 12(3), pages 207-212, March.
- Kurt Niquidet & Glen O'Kelly, 2008. "Forest-Mill Integration: A Transaction Costs Perspective," Working Papers 2008-07, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
- Niquidet, Kurt & O'Kelly, Glen, 2008. "Forest-Mill Integration: A Transaction Costs Perspective," Working Papers 37086, University of Victoria, Resource Economics and Policy.
- Shelanski, Howard A & Klein, Peter G, 1995. "Empirical Research in Transaction Cost Economics: A Review and Assessment," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 11(2), pages 335-361, October.
- Rogers, C. D., 1986. "Long term contracts and East-West trade in non-fuel minerals," Resources Policy, Elsevier, vol. 12(3), pages 204-222, September.
- Hauteclocque, Adrien de & Glachant, Jean-Michel, 2009.
"Long-term energy supply contracts in European competition policy: Fuzzy not crazy,"
Energy Policy, Elsevier, vol. 37(12), pages 5399-5407, December.
- Adrien de Hauteclocque & Jean-Michel Glachant, 2008. "Long-term Energy Supply Contracts in European Competition Policy: Fuzzy not Crazy," Working Papers 0816, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- Jean-Michel Glachant & Adrien de Hauteclocque, 2009. "Long-term Energy Supply Contracts in European Competition Policy: Fuzzy not Crazy," EUI-RSCAS Working Papers 6, European University Institute (EUI), Robert Schuman Centre of Advanced Studies (RSCAS).
- Jean-Michel Glachant & Adrien de Hauteclocque, 2009. "Long-term Energy Supply Contracts in European Competition Policy: Fuzzy not Crazy," RSCAS Working Papers 2009/06, European University Institute.
- Lyons, Bruce R, 1996. "Empirical Relevance of Efficient Contract Theory: Inter-firm Contracts," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 12(4), pages 27-52, Winter.
- Hart, Oliver, 1995. "Firms, Contracts, and Financial Structure," OUP Catalogue, Oxford University Press, number 9780198288817.
- Rucker, Randal R & Leffler, Keith B, 1988. "To Harvest or Not to Harvest? An Analysis of Cutting Behavior on Federal Timber Sales Contracts," The Review of Economics and Statistics, MIT Press, vol. 70(2), pages 207-213, May.
- Scott E. Masten & Stéphane Saussier, 2000.
"Econometrics of Contracts : an Assessment of Developments in the Empirical Literature on Contracting,"
Revue d'Économie Industrielle, Programme National Persée, vol. 92(1), pages 215-236.
- Scott Masten & Stéphane Saussier, 2000. "Econometrics of Contracts : an Assessment of Developments in the Empirical Literature on Contracting," Post-Print hal-02496798, HAL.
- 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.
- Masten, Scott E & Crocker, Keith J, 1985. "Efficient Adaptation in Long-term Contracts: Take-or-Pay Provisions for Natural Gas," American Economic Review, American Economic Association, vol. 75(5), pages 1083-1093, December.
- Arrighetti, Alessandro & Bachmann, Reinhard & Deakin, Simon, 1997. "Contract Law, Social Norms and Inter-firm Cooperation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 21(2), pages 171-195, March.
- Saussier, Stephane, 2000.
"Transaction costs and contractual incompleteness: the case of Electricite de France,"
Journal of Economic Behavior & Organization, Elsevier, vol. 42(2), pages 189-206, June.
- Stéphane Saussier, 2000. "Transaction costs and contractual incompleteness: the case of Électricité de France," Post-Print hal-02494056, HAL.
- Keith J. Crocker & Scott E. Masten, 1988. "Mitigating Contractual Hazards: Unilateral Options and Contract Length," RAND Journal of Economics, The RAND Corporation, vol. 19(3), pages 327-343, Autumn.
- Richard G. Walsh & John B. Loomis & Richard A. Gillman, 1984. "Valuing Option, Existence, and Bequest Demands for Wilderness," Land Economics, University of Wisconsin Press, vol. 60(1), pages 14-29.
- Globerman, Steven & Schwindt, Richard, 1986. "The organization of vertically related transactions in the Canadian forest products industries," Journal of Economic Behavior & Organization, Elsevier, vol. 7(2), pages 199-212, June.
- Scott E. Masten, 2009. "Long-Term Contracts and Short-Term Commitment: Price Determination for Heterogeneous Freight Transactions," American Law and Economics Review, American Law and Economics Association, vol. 11(1), pages 79-111.
- Crocker, Keith J & Masten, Scott E, 1991.
"Pretia ex Machina? Prices and Process in Long-Term Contracts,"
Journal of Law and Economics, University of Chicago Press, vol. 34(1), pages 69-99, April.
- Crocker, K.J. & Masten, S.E., 1988. "Pretia Ex Machina?: Prices And Process In Long-Term Contracts," Papers 10-88-2, Pennsylvania State - Department of Economics.
- Tang, Chuanlong, 1993. "Structure and price adjustments in long-term contracts : The case of coking coal trade in the Asian-Pacific market," Energy Policy, Elsevier, vol. 21(9), pages 944-952, September.
- Rogers, Christopher D. & Robertson, Kirsty & Robertson, Kirsty, 1987. "Long term contracts and market stability : The case of iron ore," Resources Policy, Elsevier, vol. 13(1), pages 3-18, March.
- W. Michael Hanemann, 1994. "Valuing the Environment through Contingent Valuation," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 19-43, Fall.
- Joskow, Paul L, 1987. "Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets," American Economic Review, American Economic Association, vol. 77(1), pages 168-185, March.
- Bjuggren, Per-Olof, 1992. "The effects of contractual restrictions on industrial organization: The case of Swedish pulpwood transactions," International Review of Law and Economics, Elsevier, vol. 12(4), pages 517-532, December.
- Leffler, Keith B & Rucker, Randal R, 1991. "Transactions Costs and the Efficient Organization of Production: A Study of Timber-Harvesting Contracts," Journal of Political Economy, University of Chicago Press, vol. 99(5), pages 1060-1087, October.
- Wang, Sen & van Kooten, G. Cornelis & Wilson, Bill, 2000. "Remuneration for silviculture in British Columbia: insights from transaction cost economics," Forest Policy and Economics, Elsevier, vol. 1(1), pages 71-79, May.
- Ilya Segal, 1999. "Complexity and Renegotiation: A Foundation for Incomplete Contracts," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 57-82.
- Altman Ira J & Klein Peter G. & Johnson Thomas G., 2007. "Scale and Transaction Costs in the U.S. Biopower Industry," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 5(1), pages 1-19, December.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Kanieski da Silva, Bruno & Tanger, Shaun & Marufuzzaman, Mohammad & Cubbage, Frederick, 2022. "Perfect assumptions in an imperfect world: Managing timberland in an oligopoly market," Forest Policy and Economics, Elsevier, vol. 137(C).
- Mishra, Bijesh, 2022.
"Economics and human dimension of active management of forest-grassland ecotone in South-central USA under changing climate,"
MPRA Paper
116200, University Library of Munich, Germany, revised 30 Jul 2022.
- Bijesh Mishra, 2023. "Economics and human dimension of active managment of forest grassland ecotone in south-central USA under changing climate," Papers 2302.11675, arXiv.org.
- Permadi, Dwiko B. & Burton, Michael & Pandit, Ram & Race, Digby & Walker, Iain, 2018. "Local community's preferences for accepting a forestry partnership contract to grow pulpwood in Indonesia: A choice experiment study," Forest Policy and Economics, Elsevier, vol. 91(C), pages 73-83.
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.- M'Hand Farès & Stéphane Saussier, 2002.
"Coûts de transaction et contrats incomplets,"
Revue Française d'Économie, Programme National Persée, vol. 16(3), pages 193-230.
- M'Hand Fares & Stéphane Saussier, 2002. "Coûts de transaction et contrats incomplets," Post-Print hal-02494058, HAL.
- López-Bayón, Susana & González-Díaz, Manuel, 2010. "Indefinite contract duration: Evidence from electronics subcontracting," International Review of Law and Economics, Elsevier, vol. 30(2), pages 145-159, June.
- Wang, Sen & Bogle, Tim & van Kooten, G. Cornelis, 2012.
"Forestry and the New Institutional Economics,"
Working Papers
130818, University of Victoria, Resource Economics and Policy.
- Sen Wang & Tim Bogle & G. Cornelis van Kooten, 2012. "Forestry and the New Institutional Economics," Working Papers 2012-05, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
- Dean V. Williamson, 2006. "Organization, Control and the Single Entity Defense in Antitrust," EAG Discussions Papers 200604, Department of Justice, Antitrust Division.
- Marco Furlotti, 2007. "There is more to contracts than incompleteness: a review and assessment of empirical research on inter-firm contract design," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 11(1), pages 61-99, March.
- Anjana Susarla, 2012. "Contractual Flexibility, Rent Seeking, and Renegotiation Design: An Empirical Analysis of Information Technology Outsourcing Contracts," Management Science, INFORMS, vol. 58(7), pages 1388-1407, July.
- Mayer, Kyle J. & Teece, David J., 2008. "Unpacking strategic alliances: The structure and purpose of alliance versus supplier relationships," Journal of Economic Behavior & Organization, Elsevier, vol. 66(1), pages 106-127, April.
- Pierre-André Chiappori & Bernard Salanié, 2002.
"Testing Contract Theory : A Survey of Some Recent Work,"
Working Papers
2002-11, Center for Research in Economics and Statistics.
- Pierre André Chiappori & Bernard Salanié, 2002. "Testing Contract Theory: A Survey of Some Recent Work," CESifo Working Paper Series 738, CESifo.
- 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.
- QUELIN, Bertrand & BARTHELEMY, Jerome, 2002.
"Competence, specificity and outsourcing: impact on the complexity of the contract,"
HEC Research Papers Series
759, HEC Paris.
- Jérôme Barthélemy & Bertrand Quélin, 2002. "Competence, Specificity and Outsourcing : Impact on the complexity of the contract," Working Papers hal-00593655, HAL.
- Kyle J. Mayer & Nicholas S. Argyres, 2004. "Learning to Contract: Evidence from the Personal Computer Industry," Organization Science, INFORMS, vol. 15(4), pages 394-410, August.
- Stéphane Saussier, 1998. "La durée des contrats interentreprises : une analyse empirique," Économie et Prévision, Programme National Persée, vol. 135(4), pages 137-146.
- Arora, Vipin, 2012. "A Note on Natural Gas Market Evolution in Light of Transaction Cost Theory," MPRA Paper 54974, University Library of Munich, Germany.
- Sergei Guriev & Dmitriy Kvasov, 2005.
"Contracting on Time,"
American Economic Review, American Economic Association, vol. 95(5), pages 1369-1385, December.
- Sergei Guriev & Dmitriy Kvasov, 2005. "Contracting on Time," Working Papers w0059, Center for Economic and Financial Research (CEFIR).
- Sergei Guriev & Dmitriy Kvasov, 2005. "Contracting on Time," Working Papers w0059, New Economic School (NES).
- Sergei Guriev & Dmitriy Kvasov, 2005. "Contracting on Time," Post-Print hal-03459064, HAL.
- Marian Moszoro & Pablo T. Spiller & Sebastian Stolorz, 2016.
"Rigidity of Public Contracts,"
Journal of Empirical Legal Studies, John Wiley & Sons, vol. 13(3), pages 396-427, September.
- Marian Moszoro & Pablo T. Spiller & Sebastian Stolorz, 2015. "Rigidity of Public Contracts," NBER Working Papers 21186, National Bureau of Economic Research, Inc.
- Moszoro, Marian W. & Spiller, Pablo T. & Stolorz, Sebastian, 2016. "Rigidity of Public Contracts," MPRA Paper 101575, University Library of Munich, Germany.
- repec:bla:jomstd:v:47:y:2010:i:s1:p:859-883 is not listed on IDEAS
- Joseph C. Mullin & Wallace P. Mullin, 1996. "United States Steel's Acquisition of the Great Northern Ore Properties: Vertical Foreclosure or Efficient Contractual Governance?," NBER Working Papers 5662, National Bureau of Economic Research, Inc.
- Zhiqi Chen & Xiaoqiao Wang, 2020. "Specific investment, supplier vulnerability and profit risks," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 47(9-10), pages 1215-1237, October.
- Chi-Kong Chyong, 2015. "Markets and long-term contracts: The case of Russian gas supplies to Europe," Cambridge Working Papers in Economics 1542, Faculty of Economics, University of Cambridge.
- Costello, Anna M., 2013. "Mitigating incentive conflicts in inter-firm relationships: Evidence from long-term supply contracts," Journal of Accounting and Economics, Elsevier, vol. 56(1), pages 19-39.
- Maria Goddard & Russell Mannion, 1998. "From competition to co‐operation: new economic relationships in the National Health Service," Health Economics, John Wiley & Sons, Ltd., vol. 7(2), pages 105-119, March.
More about this item
Keywords
Transaction cost theory; Long-term contracts; Timber trade; Germany;All these keywords.
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:forpol:v:55:y:2015:i:c:p:1-9. 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/forpol .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.