This note argues that many of the problems that have plagued highway privatization stem from the combined effects of special features of the highway business and the type of contracts - fixed term franchises - that have typically been used. The note presents a new mechanism, the least present- value-of-revenue (LPVR) auction, that corrects some of the shortcomings of the fixed term franchise. The new mechanism endogenously adjusts the duration of...
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INFORMATION
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1997/05/31
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Point de vue
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16870
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1
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1
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2017/12/26
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Disclosed
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Privatizing roads : a new method for auctioning highways
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franchise holder
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