Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/26996 
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dc.contributor.authorEngel, Eduardo M. R. A.en
dc.contributor.authorFischer, Ronald D.en
dc.contributor.authorGaletovic, Alexanderen
dc.date.accessioned2009-08-06T09:44:40Z-
dc.date.available2009-08-06T09:44:40Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aYale University, Economic Growth Center |cNew Haven, CTen
dc.relation.ispartofseries|aCenter Discussion Paper |x957en
dc.subject.jelH21en
dc.subject.jelH54en
dc.subject.jelL51en
dc.subject.jelR42en
dc.subject.ddc330en
dc.subject.keywordBundlingen
dc.subject.keywordcost of public fundsen
dc.subject.keyworddemsetz auctionen
dc.subject.keywordminimum revenue guaranteesen
dc.subject.keywordprivatizationen
dc.subject.keywordrevenue and profit capsen
dc.subject.keywordscope of government,en
dc.subject.keywordsubsidies.en
dc.titleThe basic public finance of public-private partnerships-
dc.type|aWorking Paperen
dc.identifier.ppn593371534en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:egc:wpaper:957en

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