On Choosing Organizational-Arrangements: The Example of Offshore Oil Gathering
AbstractThe main organizational arrangements found in offshore oil production are described and explained using the transaction cost paradigm. Both measurement cost and rent appropriation economizing are utilized and it is shown that organizational arrangements align with predictions. The internationalization of the industry is shown to depend upon transaction cost economizing motives. Selection of an institutional market arrangement--the invited tender-bid auction--is also shown to be transaction cost dependent. Complexity of product or process is argued to be a separate explanatory variable in the choice of organizational arrangements. Copyright 1991 by Scottish Economic Society.
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Bibliographic InfoArticle provided by Scottish Economic Society in its journal Scottish Journal of Political Economy.
Volume (Year): 38 (1991)
Issue (Month): 3 (August)
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- Bigelow, Lyda S. & Argyres, Nicholas, 2008. "Transaction costs, industry experience and make-or-buy decisions in the population of early U.S. auto firms," Journal of Economic Behavior & Organization, Elsevier, vol. 66(3-4), pages 791-807, June.
- 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.
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