Publisher's Synopsis
This is a study of offshore oil productions, which includes measurement costs, auctions and the process of price formation, legal and customary practices in the offshore oil supply industry markets, bid prices and rent distribution.;The author deploys the modern transaction cost paradigm to explain the preference among oil companies for vertical disintegration in the provision of services and supplies. He argues that such production features result in the desire to avoid rent appropriation and to economize measurement costs among the multinational off-shore firms.
