Look up the following article by Simon Brinsmead: "Oil Concession Contracts and the Problem of Hold-Up," downloadable at http://www.dundee.ac.uk/cepmlp/journal/ html/Vol17/Vol17_11.pdf. How do the ideas in this article relate to this chapter's discussion? Assume you were advising the government of a developing country with oil reserves. What kind of contract would you recommend to the government? Explain.