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The Theory of Contractual Incentives for Cost Reduction

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  • F. M. Scherer

Abstract

I. The basic contract types, 258. — II. The contractor's profit maximization problem, 261. — III. Outlay minimization by the government as buyer, 271. — IV. Consistency with empirical evidence, 273. — V. Toward a theory of risk aversion, 276. — VI. Some broader implications, 278.

Suggested Citation

  • F. M. Scherer, 1964. "The Theory of Contractual Incentives for Cost Reduction," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(2), pages 257-280.
    • Handle: RePEc:oup:qjecon:v:78:y:1964:i:2:p:257-280.
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    File URL: http://hdl.handle.net/10.2307/1879326
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    Citations

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    Cited by:

    1. Michel Mougeot & Florence Naegelen, 1988. "Analyse micro-économique du Code des marchés publics," Revue Économique, Programme National Persée, vol. 39(4), pages 725-752.
    2. Richard Engelbrecht-Wiggans, 1979. "Auctions and Bidding Models: A Survey," Cowles Foundation Discussion Papers 496R, Cowles Foundation for Research in Economics, Yale University.
    3. Ward, S. C. & Chapman, C. B., 1995. "Evaluating fixed price incentive contracts," Omega, Elsevier, vol. 23(1), pages 49-62, February.
    4. Yunjuan Liang & Xin Liang & Hua Wei, 2023. "Sustainable Quality-Incentive Contract Design of Public Technology Innovation Procurement under Asymmetry Information," Sustainability, MDPI, vol. 15(11), pages 1-22, May.
    5. Mahavadi Dhanshyam & Samir K. Srivastava, 2021. "Governance structures for public infrastructure projects: Public–private management regimes, contractual forms and innovation," Construction Management and Economics, Taylor & Francis Journals, vol. 39(8), pages 652-668, August.
    6. Jean-Pierre Florens & Nathalie Naffrichoux, 1992. "Estimation du taux de partage des risques dans les contrats État-industries spatiales," Revue Économique, Programme National Persée, vol. 43(5), pages 851-870.
    7. Sang-Hyun Kim & Morris A. Cohen & Serguei Netessine, 2007. "Performance Contracting in After-Sales Service Supply Chains," Management Science, INFORMS, vol. 53(12), pages 1843-1858, December.
    8. F. M. Scherer, 1996. "An Accidental Schumperterian," The American Economist, Sage Publications, vol. 40(1), pages 5-13, March.

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