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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/53203
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| Title: | | Auctioning monopoly franchises: Award criteria and service launch requirements  |
| Authors: | | Moretto, Michele Dosi, Cesare |
| Issue Date: | | 2009 |
| Series/Report no.: | | Nota di lavoro // Fondazione Eni Enrico Mattei: Institutions and markets 23.2009 |
| Abstract: | | We study the competition to acquire the exclusive right to operate an infrastructure service, by comparing two different specifications for the financial proposals - lowest price to consumers vs highest concession fee, and two alternative contractual arrangements: a contract which imposes the obligation to immediately undertake the investment required to operate the concessioned service and a contract which simply assigns to the winning bidder the right to supply the market at a date of her choosing. By comparing the returns of these alternative award criteria and concessioning conditions, we show that concessioning without imposing rollout time limits may or may not provide a higher expected social value, depending on the bidding rule used to allocate the contract. In turn, the relative advantages of each award criterion are affected by the concessioning conditions. |
| Subjects: | | Concessions Auctions Award criteria Service Rollout Time limits |
| JEL: | | L51 D44 D92 |
| Document Type: | | Working Paper |
| Appears in Collections: | | FEEM Working Papers, Fondazione Eni Enrico Mattei
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