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There is a tradeoff that must be addressed any time a contract is written; whether or not to make a contract flexible but incomplete or rigid but comprehensive. This paper investigates the completeness of hydroelectric license contracts over a nearly three decade time span and finds that as...
Persistent link: https://www.econbiz.de/10013075509
The Federal Energy Regulatory Commission must balance environmental protection of riverine resources with the nation's growing demand for power production every time it issues a new hydroelectric license. This paper models the bureaucratic agency's decision making process in issuing these...
Persistent link: https://www.econbiz.de/10012709367