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A theory of BOT concession contracts
AURIOL, Emmanuelle; PICARD, Pierre M. - Center for Operations Research and Econometrics (CORE), … - 2011
In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and firm managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries...
Persistent link: https://www.econbiz.de/10010610448
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A Theory of BOT Concession Contracts
Auriol, Emmanuelle; Picard, Pierre - Toulouse School of Economics (TSE) - 2011
In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and …rm managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries...
Persistent link: https://www.econbiz.de/10009369361
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A Theory of BOT Concession Contracts
Auriol, Emmanuelle; Picard, Pierre - Institut d'Économie Industrielle (IDEI), Toulouse … - 2011
In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and …rm managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries...
Persistent link: https://www.econbiz.de/10009002345
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A Theory of BOT Concession Contracts
Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2011
In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries entice...
Persistent link: https://www.econbiz.de/10008921773
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A theory of BOT concession contracts
Auriol, Emmanuelle; Picard, Pierre M. - In: Journal of Economic Behavior & Organization 89 (2013) C, pp. 187-209
In this paper, we discuss the choice for build–operate-and-transfer (BOT) concessions when governments and firm managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries...
Persistent link: https://www.econbiz.de/10010664298
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Liberal Regulation : Privatization of Natural Monopolies with Adverse Selection
Auriol, Emmanuelle; Picard, Pierre M. - 2007
This paper studies the effect of soft-budget constraints in a pure adverse selection model of monopoly regulation. We …-up allows governments to avoid re-funding moneyloosing firms and that welfare is larger than under traditional regulation where …
Persistent link: https://www.econbiz.de/10014052152
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Government Outsourcing: Public Contracting with Private Monopoly
Auriol, Emmanuelle; Picard, Pierre M. - CESifo - 2006
The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation …. The government maximizes total surplus but incurs some cost of public funds. An alternative to regulation is proposed in …-post with the private firms. This ex-post contracting set-up allows more flexibility than traditional regulation where …
Persistent link: https://www.econbiz.de/10005765762
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Government Outsourcing: Public Contracting with Private Monopoly
Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2006
The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation … to regulation is proposed in which firms are free to enter the market and to choose their price and output levels … than traditional regulation where governments commit to both investment and operation cash-flows. This is especially …
Persistent link: https://www.econbiz.de/10005067470
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Government Outsourcing : Public Contracting with Private Monopoly
Auriol, Emmanuelle - 2006
The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation …. The government maximizes total surplus but incurs some cost of public funds. An alternative to regulation is proposed in …-post with the private firms. This ex-post contracting set-up allows more flexibility than traditional regulation where …
Persistent link: https://www.econbiz.de/10012779949
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Liberal regulation : privatization of natural monopolies with adverse selection
AURIOL, Emmanuelle; PICARD, Pierre - Center for Operations Research and Econometrics (CORE), … - 2004
This paper studies the effect of soft-budget constraints in a pure adverse selection model of monopoly regulation. We …
Persistent link: https://www.econbiz.de/10005008419