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dc.contributor.authorEngel, Eduardo M. R. A.en_US
dc.contributor.authorFischer, Ronald D.en_US
dc.contributor.authorGaletovic, Alexanderen_US
dc.date.accessioned2009-08-06T09:44:40Z-
dc.date.available2009-08-06T09:44:40Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/26996-
dc.description.abstractPublic-private partnerships (PPPs) cannot be justified because they free public funds. When PPPs are justified on efficiency grounds, the contract that optimally balances demand risk, user-fee distortions and the opportunity cost of public funds, features a minimum revenue guarantee and a revenue cap. However, observed revenue guarantees and revenue sharing arrangements differ from those suggested by the optimal contract. Also, this contract can be implemented via a competitive auction with realistic informational requirements. Finally, the allocation of risk under the optimal contract suggests that PPPs are closer to public provision than to privatization.en_US
dc.language.isoengen_US
dc.publisherYale Univ., Economic Growth Center New Haven, Conn.en_US
dc.relation.ispartofseriesCenter discussion paper // Economic Growth Center 957en_US
dc.subject.jelH21en_US
dc.subject.jelH54en_US
dc.subject.jelL51en_US
dc.subject.jelR42en_US
dc.subject.ddc330en_US
dc.subject.keywordBundlingen_US
dc.subject.keywordcost of public fundsen_US
dc.subject.keyworddemsetz auctionen_US
dc.subject.keywordminimum revenue guaranteesen_US
dc.subject.keywordprivatizationen_US
dc.subject.keywordrevenue and profit capsen_US
dc.subject.keywordscope of government,en_US
dc.subject.keywordsubsidies.en_US
dc.titleThe basic public finance of public-private partnershipsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn593371534en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Center Discussion Papers, Economic Growth Center (EGC), Yale University

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