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Opportunistic Behaviour in Subcontracting with Asset Specificity and Asymmetric Information: the Interwar British Road-haulage Industry

Author

Listed:
  • Scott, P.
  • Reid, C.

Abstract

This paper examines the nature of subcontracting in the interwar road haulage industry. This new industry was dominated by very small-sclae hauliers, requiring a market-making intermediary to arrange full and return loads so as to avoid capacity underutilisation and the duplication of services. Freight clearing houses rapidly emerged to fulfil this role, subcontracting business to independent hauliers. However, many subcontractors found that they had entered contracts that strongly favoured the clearing houses.

Suggested Citation

  • Scott, P. & Reid, C., 1998. "Opportunistic Behaviour in Subcontracting with Asset Specificity and Asymmetric Information: the Interwar British Road-haulage Industry," Papers 113, Portsmouth University - Department of Economics.
  • Handle: RePEc:fth:portec:113
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    More about this item

    Keywords

    ASYMETRIC INFORMATION ; SUBCONTRACTING ; ROADS;

    JEL classification:

    • L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
    • N74 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: 1913-
    • J00 - Labor and Demographic Economics - - General - - - General

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