Regulatory Trade-Offs in the Design of Concession Contracts
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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- J-J. Laffont & J. Tirole, 1994.
"Access Pricing and Competition,"
95-11, Massachusetts Institute of Technology (MIT), Department of Economics.
- Peter Cramton, 1997.
"The FCC Spectrum Auctions: An Early Assessment,"
Papers of Peter Cramton
97jemsfcc, University of Maryland, Department of Economics - Peter Cramton, revised 12 Jul 1998.
- Armstrong, M. & Doyle, C. & Vickers, J., 1995.
"The access pricing problem: a synthesis,"
Discussion Paper Series In Economics And Econometrics
9532, Economics Division, School of Social Sciences, University of Southampton.
- Klein, Michael, 1996. "Competition in network industries," Policy Research Working Paper Series 1591, The World Bank.
- 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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