social cost that increases with the expropriated value. In this environment, the planner’s optimal contract avoids states … with high probability of expropriation. The contract can be implemented via a competitive auction with reasonable … bid wins the contract. The basic framework is extended to incorporate government subsidies, unenforceable investment …

the private sector is more efficient, the contract that optimally trades demand risk, user-fee distortions and the … contract. The optimal contract can be implemented via a competitive auction with realistic informational requirements; and risk … allocation under the optimal contract suggests that PPPs are closer to public provision than to privatization. …

social cost that increases with the expropriated value. In this environment, the planner's optimal contract avoids states … with high probability of expropriation. The contract can be implemented via a competitive auction with reasonable … bid wins the contract. The basic framework is extended to incorporate government subsidies, unenforceable investment …

social cost that increases with the expropriated value. In this environment, the planner's optimal contract avoids states … with high probability of expropriation. The contract can be implemented via a competitive auction with reasonable … bid wins the contract. The basic framework is extended to incorporate government subsidies, unenforceable investment …