全球智库信息集成服务系统(G2TT): Concession Bidding Rules and Investment Time Flexibility

G2TT

来源类型	FEEM working papers "Note di lavoro" series
规范类型	论文
	Concession Bidding Rules and Investment Time Flexibility
	Michele Moretto; Cesare Dosi
发表日期	2007
出处	Economy and Society
出版年	2007
语种	英语
摘要	We study the competition to operate an infrastructure service by developing a model where firms report a two-dimensional sealed bid: the price to consumers and the concession fee paid to the government. Two alternative bidding rules are considered in this paper. One rule consists of awarding the exclusive right of exercise to the firm that reports the lowest price. The other consists of granting the franchise to the bidder offering the highest fee. We compare the outcome of these rules with reference to two alternative concession arrangements. The former imposes the obligation to immediately undertake the investment required to roll-out the service. The latter allows the winning bidder to optimally decide the investment time. The focus is on the effect of bidding rules and managerial flexibility on expected social welfare. We find that the two bidding rules provide the same outcome only when the contract restricts the autonomy of the franchisee, and we identify the conditions under which time flexibility can provide a higher social value.
特色分类	L51,D44,D92
关键词	Concessions,Auctions,Bidding Rules,Managerial Flexibility
URL	https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/concession-bidding-rules-and-investment-time-flexibility/
来源智库	Fondazione Eni Enrico Mattei (Italy)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/117423
推荐引用方式 GB/T 7714	Michele Moretto,Cesare Dosi. Concession Bidding Rules and Investment Time Flexibility. 2007.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
NDL2007-003.pdf（308KB）	智库出版物		限制开放	CC BY-NC-SA	浏览