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- W331332904 abstract "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 the franchise to the realization of demand: the term lengthens if traffic grows more slowly than expected and shortens if it grows more rapidly than expected." @default.
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- W331332904 date "1997-05-31" @default.
- W331332904 modified "2023-09-27" @default.
- W331332904 title "Privatizing roads : a new method for auctioning highways" @default.
- W331332904 hasPublicationYear "1997" @default.
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