Asset specificity and contractual relations: Analysis of a construction case study
DOI:
https://doi.org/10.55444/2451.7321.2011.v49.n1.6508Keywords:
firm behavior, business economicsAbstract
The purpose of this paper is to describe mechanism included in construction contracts that have the purpose of reducing transaction costs. Contractual solutions are analyzed focusing, in particular, on asset specificity and bounded rationality. A public works contract case is used as empirical evidence of the theoretical concepts.
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Copyright (c) 2011 Martín Dutto, Marcos Gallacher
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