| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Auctioning Monopoly Franchises: Award Criteria and Service Launch Requirements
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| Autores: |
Dosi, Cesare
Moretto, Michele
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| Data: |
2009-05-28
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| Ano: |
2009
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| Palavras-chave: |
Concessions
Auctions
Award criteria
Service Rollout Time limits
Public Economics
L51
D44
D92
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| Resumo: |
We study the competition to acquire the exclusive right to operate an infrastructure service, by comparing two different specifications for the financial proposals - "lowest price to consumers" vs "highest concession fee", and two alternative contractual arrangements: a contract which imposes the obligation to immediately undertake the investment required to operate the concessioned service and a contract which simply assigns to the winning bidder the right to supply the market at a date of her choosing. By comparing the returns of these alternative award criteria and concessioning conditions, we show that concessioning without imposing rollout time limits may or may not provide a higher expected social value, depending on the bidding rule used to allocate the contract. In turn, the relative advantages of each award criterion are affected by the concessioning conditions.
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/50409
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| Relação: |
Fondazione Eni Enrico Mattei (FEEM)>Institutions and Markets Papers
IM
23.2009
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| Formato: |
30
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