Sharing risk through concession contracts
AbstractIn this paper we model concession contracts between a public and a private party, under dynamic uncertainty arising both from the volatility of the cash flow generated by the project and by the strategic behaviour of the two parties. Under these conditions we derive three notions of equilibrium price and apply the model to a case study for one of the most important concession contracts in Italy.
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Bibliographic InfoArticle provided by Elsevier in its journal European Journal of Operational Research.
Volume (Year): 207 (2010)
Issue (Month): 1 (November)
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Web page: http://www.elsevier.com/locate/eor
Uncertainty modelling Real option Transportation Risk analysis Concession contract;
Other versions of this item:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
- L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
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