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Multidimensionality and Renegotiation: Evidence from Transport-Sector Public-Private-Partnership Transactions in Latin America

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dc.contributor.authorEstache, Antonio
dc.contributor.authorGuasch, Jose-Luis
dc.contributor.authorIimi, Atsushi
dc.contributor.authorTrujillo, Lourdes
dc.date.accessioned2012-03-30T07:34:06Z
dc.date.available2012-03-30T07:34:06Z
dc.date.issued2009
dc.description.abstractMultidimensional auctions are a natural, practical solution when governments pursue more than one objective in their public-private-partnership transactions. However, multi-criteria auctions seem difficult to implement and vulnerable to corruption and opportunistic behavior of both parties involved. Using data from road and railway concessions in Latin America, the paper examines the probability of renegotiation in connection with the selected award criteria. It shows that auctioneers tend to adopt the multidimensional format when the need for social considerations, such as alleviation of unemployment, is high. But more renegotiations would likely happen when the multidimensional format is used. Good governance, particularly regulatory quality and anti-corruption policies, can mitigate the renegotiation problem.en
dc.identifier.citationReview of Industrial Organization
dc.identifier.issn0889938X
dc.identifier.urihttps://hdl.handle.net/10986/5698
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectPublicly Provided Goods: Mixed Markets H440
dc.subjectNational Government Expenditures and Related Policies: Infrastructures
dc.subjectOther Public Investment and Capital Stock H540
dc.subjectRailroads and Other Surface Transportation L920
dc.subjectFormal and Informal Sectors
dc.subjectShadow Economy
dc.subjectInstitutional Arrangements O170
dc.subjectEconomic Development: Regional, Urban, and Rural Analyses
dc.subjectTransportation O180
dc.subjectTransportation Systems: Government and Private Investment Analysis
dc.subjectRoad Maintenance, Transportation Planning R420
dc.titleMultidimensionality and Renegotiation: Evidence from Transport-Sector Public-Private-Partnership Transactions in Latin Americaen
dc.title.alternativeReview of Industrial Organizationen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum660
okr.journal.nbpages41-71
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.region.administrativeLatin America & Caribbean
okr.relation.associatedurlhttp://dx.doi.org/10.1007/s11151-009-9225-0
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1078153&site=ehost-live
okr.relation.associatedurlhttp://www.springerlink.com/link.asp?id=100336
okr.volume35
relation.isAuthorOfPublication4cc9b022-436f-51a0-b40d-6c4438bbced2
relation.isAuthorOfPublicationeeef1beb-b651-587f-bb16-a47ff170a096
relation.isAuthorOfPublication.latestForDiscoveryeeef1beb-b651-587f-bb16-a47ff170a096
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