| Uncertain environment,incomplete information,bounded rationality,transaction cost lead to the inevitable existence of incomplete contract.The complexity,long-term and procedural nature of the project contract formation path and the bilateral nature,uncertainty,opportunism of the execution process make the contract incompleteness become more obvious,which is embodied in two aspects: On the one hand,due to the existence of contract gaps and unconfirmed clauses,it is difficult to get the natural events,contingencies and dispute effectively resolved.On the other hand,the difference of asset-specific investment leads to the inefficiency of bilateral lock-up renegotiation,the opportunism of economic man is very easy to induce the appearance of hammering behavior.Klein’s self-executing mechanism and Hart’s idea of renegotiation emphasize the internal settlement of the incomplete contract,that is,in the case of unclear contract terms which both parties can understand the contractual arrangement,do not relying on the contract terms court enforced,then using the threat of terminating commercial relations to properly handle the rip-off.Site instruction,variation order,price adjustment,claim and reconciliation are important ways to renegotiate in incomplete contract.However,the mismatch of natural events,contingent events,dispute renegotiation and improper investment of resources in engineering practice undermine the contractual relationship between the contracting parties,so the contract status is not compensated and the contract execution efficiency is low.The theory of incomplete contract emphasizes the incompleteness of the contract,and the observation of the information but can not be confirmed and the action that can not be contracted beforehand in the transaction market.In order to avoid the rigid clause violating the original intention of the contractor and seeking perfect fulfillment of the long-term contract,incomplete contract theory emphasizes the internal treatment of dispute within the contract.The goal of the contract status theory is to describe the difference between the change path of the engineering contract and the contract relationship,and expound the time-varying mechanism and processing mechanism of the contract status on the base of the risk-sharing theory.Pareto and opportunistic renegotiation efficiency study emphasizes the comprehensive optimization of time dimension,material dimension and value dimension,and the purpose is to analyze the length of dispute settlement time and the degree of contractual relationship stability in the renegotiation of certain cost about human and material.Based on the above theoretical basis,this paper studies the renegotiation and efficiency of engineering project under incomplete contract theory as follows.First,according to the theory of incomplete contract and contract status theory,dividing the level of renegotiation and elaborating status adjustment mechanism.Firstly,it summarizes the formation path and incompleteness of the project contract,and expounds the impact of the bilateral lock-up relationship on the opportunism under the bidding system,then divides the event-level renegotiation and project-level renegotiation on the basis of analyzing the project renegotiation characteristics.Finally,from the perspective of renegotiation,generalizing the adjustment process of contract status under the time dimension,physical dimension and contract relational dimension,which provides support for the analysis of the incomplete contract mutagenesis mechanism.Second,the practice and comparative analysis of the event-level renegotiation and projectlevel renegotiation.Based on the definition and analysis of the renegotiations at the event-level and the project-level,the essay summarizes the scope,application criteria and execution procedures of the site instruction,variation order,price adjustment,claim and reconciliation by the literature review and empirical research method.Combined with contract status theory,the paper analyzes the difference of renegotiation in engineering project,and uses the method of literature check to summarize the situations of renegotiation.Third,the efficiency analysis and improvement suggestions of the event-level renegotiation and project-level renegotiation.Based on the research results of institutional economy,behavior management and productive labor,this part analyzes the influencing factors of technical efficiency and allocation efficiency at event-level and project-level renegotiation,and summarizes suggestions on efficiency improvement of renegotiation based on engineering practice.In summary,this paper mainly uses literature review,inductive deduction and other methods to clarify the incomplete characteristics of the project contract and the mechanism of status change.On the basis of dividing the event-level and the project-level renegotiation,the paper summarizes the application practice and the efficiency improvement path of engineering project renegotiation,and provides the practice and theory support for relation processing between contractee and contractor in the incomplete contract. |
