Privatizing Highways in the United States
AbstractWe review the experience of both private toll-roads built in the United States during the 1990s, and argue that the problems they encountered could have been avoided if the length of the franchise contract would adapt to demand realizations. We also argue in favor of adjudicating private toll-roads via BOT-type contracts in competitive (Demsetz) auctions. The lessons of this paper are relevant since growing congestion and troubled government finances have made private toll-roads increasingly attractive in the United States. Copyright Springer 2006
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Bibliographic InfoArticle provided by Springer in its journal Review of Industrial Organization.
Volume (Year): 29 (2006)
Issue (Month): 1 (September)
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Web page: http://www.springerlink.com/link.asp?id=100336
BOT contracts; cost-of-funds; Demsetz auction; privatization; subsidies;
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