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Regulatory Trade-Offs in the Design of Concession Contracts

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Author Info

  • Crampes, C.
  • Estache, A.

Abstract

The paper discusses how conflicts between the multiple objectives of policymakers (efficiency, equity, fiscal, speed of reform, signaling...) can influence the optimal design of concessions contracts for network services in infrastructure. The discussion covers the relevance of information asymmetries of the optimal regulatory regime and processes, for the optimal design of awarding processes and for the optimal duration of the contracts. It also adresses the de sign of pricing in relation withthe universal service obligation. It concludes with an illustration of the preceding economic principles with some stylized facts from the liberalization experiment in Argentina.

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Bibliographic Info

Paper provided by Toulouse - GREMAQ in its series Papers with number 97.462.

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Length: 19 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:gremaq:97.462

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Postal: GREMAQ, Universite de Toulouse I Place Anatole France 31042 - Toulouse CEDEX France.
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Fax: 05 61 22 55 63
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Web page: http://www-gremaq.univ-tlse1.fr/
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Keywords: REGULATION ; FINANCIAL MARKET;

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Armstrong, Mark & Doyle, Chris & Vickers, John, 1996. "The Access Pricing Problem: A Synthesis," Journal of Industrial Economics, Wiley Blackwell, vol. 44(2), pages 131-50, June.
  2. Laffont, Jean-Jacques & Tirole, Jean, 1992. "Access Pricing and Competition," IDEI Working Papers 19, Institut d'Économie Industrielle (IDEI), Toulouse.
  3. Peter Cramton, 1997. "The FCC Spectrum Auctions: An Early Assessment," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 6(3), pages 431-495, 09.
  4. Martimort, David, 1992. "Multi-Principaux avec Anti-Sélection," IDEI Working Papers 14, Institut d'Économie Industrielle (IDEI), Toulouse.
  5. Klein, Michael, 1996. "Competition in network industries," Policy Research Working Paper Series 1591, The World Bank.
  6. McAfee, R Preston & McMillan, John, 1987. "Auctions and Bidding," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 699-738, June.
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Citations

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Cited by:
  1. Estache, Antonio & Quesada, Lucia, 2001. "Concession contract renegotiations : some efficiency versus equity dilemmas," Policy Research Working Paper Series 2705, The World Bank.
  2. Marques, Rui Cunha & Berg, Sanford V, 2010. "Revisiting the strengths and limitations of regulatory contracts in infrastructure industries," MPRA Paper 32890, University Library of Munich, Germany.
  3. Sudong Ye & Robert Tiong, 2003. "Tariff adjustment frameworks for privately financed infrastructure projects," Construction Management and Economics, Taylor & Francis Journals, vol. 21(4), pages 409-419.
  4. de Rus, Gines, 2000. "Infraestructuras: ¿Qué podemos decir los economistas?
    [Infrastructure: what can the economists say?]
    ," MPRA Paper 12194, University Library of Munich, Germany.

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