| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8042 |
| DP8042 The cost of contract renegotiation: Evidence from the local public sector | |
| David Martimort; Marc Ivaldi; Philippe Gagnepain | |
| 发表日期 | 2010-10-23 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | The renegotiation of regulatory contracts is known to prevent regulators from achieving the full commitment efficient outcome in dynamic contexts. However, assessing the cost of such renegotiation remains an open issue from an empirical viewpoint. To address this question, we fit a structural principal-agent model with renegotiation on a set of urban transport service contracts. The model captures two important features of the industry. First, only two types of contracts are used in practice (fixed-price and cost-plus). Second, subsidies increase over time. We compare a scenario with renegotiation and a hypothetical situation with full commitment. We conclude that the welfare gains from improving commitment would be significant but would accrue mostly to operators. |
| 主题 | Industrial Organization |
| 关键词 | Contract Public transit Renegotiation |
| URL | https://cepr.org/publications/dp8042 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536893 |
| 推荐引用方式 GB/T 7714 | David Martimort,Marc Ivaldi,Philippe Gagnepain. DP8042 The cost of contract renegotiation: Evidence from the local public sector. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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