Academic Journal
American Meeting of the Econometric Society, and International Conference on Franchising at
| العنوان: | American Meeting of the Econometric Society, and International Conference on Franchising at |
|---|---|
| المؤلفون: | Eduardo H. Saavedra Y, Thanks To Kaushik Basu, Héctor Chade, David Easley, Robert T. Masson, Alfredo Rodríguez |
| المساهمون: | The Pennsylvania State University CiteSeerX Archives |
| المصدر: | http://www.ilades.cl/economia/Publicaciones/ser_inv/inv106.pdf. |
| سنة النشر: | 1998 |
| المجموعة: | CiteSeerX |
| مصطلحات موضوعية: | Infrastructure franchising, incomplete contracts, unveri- …able information, renegotiation, under-investment, over-investment |
| الوصف: | This paper characterizes the equilibria of infrastructure franchising under incomplete contracting and ex-post renegotiation. The parties (government and a …rm) are unable to credibly commit to the contracted investment plan, so that a second step investment (labeled as investments in service quality) is renegotiated by the parties in the revision stage. As expected, the possibility of renegotiation a¤ects initial non-veri…able investments. The main conclusion of this paper is that not only under-investment but also over-investment in infrastructure may arise in equilibrium, compared to the complete contracting level. |
| نوع الوثيقة: | text |
| وصف الملف: | application/pdf |
| اللغة: | English |
| Relation: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.202.3057; http://www.ilades.cl/economia/Publicaciones/ser_inv/inv106.pdf |
| الاتاحة: | http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.202.3057 http://www.ilades.cl/economia/Publicaciones/ser_inv/inv106.pdf |
| Rights: | Metadata may be used without restrictions as long as the oai identifier remains attached to it. |
| رقم الانضمام: | edsbas.510F8098 |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |