Dobre Praktyki PPP
27.01.2011, kasia

Opportunism in Public-Private Project Financing – dr Marian Moszoro

Opportunism, either governmental or private, may become a powerful deterrent against public-private project financing, especially considering the scale of the investment in infrastructure. The parties can secure themselves against counterparty opportunism by assigning the investor an exit (put) option and the public agent a bail-out (call) option on the private investor’s shares.

This paper presents a mechanism for converting natural monopolies into contestable markets using over-the-counter option contracts that combine the stability of long-term contracts and the flexibility of short-term contracts. The exit bail-out option mechanism reduces entry barriers by streamlining incomplete long-term contracts and avoiding contractual problems related to bounded rationality and opportunism.

Read more

Możliwość komentowania jest wyłączona.

Kalendarium wydarzeń PPP
Marzec 2019
P W Ś C P S N
 123
45678910
11121314151617
18192021222324
25262728293031
Partnerzy: