It blamed lower oil prices, a change in the timing of contracts and a settlement relating to a Shetland project.
We derive the seller-optimal equilibrium and show that, when the seller cannot condition on future contractual terms (either explicitly or implicitly), she endogenously generates a commitment to maintaining high future prices by manipulating the timing of contracting.
Finally we show how the aforementioned results must be adjusted to accommodate alternative assumptions about the observability of upstream histories and/or the timing of contracting examined in the literature.
This afternoon I am meeting a family who are feeling a bit anxious about the timings of contract agreements.
The process and timing of this contract — about four months before the first presidential nominating contest — deprive it of the "visceral premise" behind the 1994 contract, which was unveiled just over a month before the general election, said Mr. Feehery, now president of the strategic communications firm Quinn Gillespie & Associates.
In its statement, FIFA dryly labeled the timing of that contract extension "noteworthy".
Our analysis is also related to work regarding contracting outside of agriculture, including Maskin and Riley (1985), Khalil and Lawaree (1995), Laffont and Tirole (1986), and Lewis and Sappington (1991) although it differs from these analyses in terms of assumptions regarding input substitutability and/or the timing of critical contract decisions relative to the timing of production.
King described the timing of the contract with ABC as "the passing of the sun and the moon at the right time for Calgary".
The timing of the contract was designed to remove any concern that payment for the work of data analysis and publication would be dependent upon the outcome.
It said it was still aiming to double its 2010 net income of $431m by 2015, but this now depended on the timing of various contracts.
