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Consolidation of public safety wireless networks: An options-based economic analysis of numerous scenarios

  • Lee, Sungho
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    The Korean National Emergency Management Agency proposed to replace existing public safety wireless networks of 46 agencies with a nation-wide consolidated network. This study compares the public-private partnership alternative of sharing a network with the conventional alternative of building a government autonomous network. Using exploratory modeling and real option analysis which compute path-dependent values (including network effects and switching costs) of all the plausible sequential incremental investments against a wide range of future states, this study has designed adaptive investment strategies ("start robust, then adapt") which start in the highest pay-off area, and then make investment decisions about whether to expand or switch to lower pay-off areas, based on an updated information of technology prospects and the previous-stage performances of inter-agency operational effectiveness and public-private partnership. This case study has demonstrated that well-designed adaptive investments will enhance long-term values and reduce downfalls arising from public-private partnership.

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    Article provided by Elsevier in its journal Telecommunications Policy.

    Volume (Year): 35 (2011)
    Issue (Month): 2 (March)
    Pages: 91-101

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    Handle: RePEc:eee:telpol:v:35:y:2011:i:2:p:91-101
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