|
on Project, Program and Portfolio Management |
| By: | Marco Buso (Interuniversity Centre for Public Economics (CRIEP) and Interdepartmental Centre G. Levi Cases for Energy, Economics and Technology, University of Padova); Cesare Dosi (Department of Economics and Management, University of Padova and Interuniversity Centre for Public Economics (CRIEP)); Michele Moretto (Department of Economics and Management, University of Padova) |
| Abstract: | We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be loss-making. In a continuous time setting with hidden information about stochastic operating profits, we show that a revenue-maximizing government can optimally trade-off direct subsidies for capital investment against the right of opting out the PPP. In particular, the exit option, acting as a risk-sharing device, can soften agency problems and increase the value-for-money of public spending, even while taking into account the budgetary resources needed to resume the project in the event of early termination by the contractor. |
| Keywords: | Public Projects, Public-private Partnerships, Adverse Selection, Real Options, Investment Timing, Termination Fees |
| JEL: | D81 D82 D86 H54 |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2018.32&r=all |
| By: | M Rakotovao; J. Gobert (LEESU - Laboratoire Eau Environnement et Systèmes Urbains - AgroParisTech - ENPC - École des Ponts ParisTech - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12); S Brullot |
| Abstract: | A rural biorefinery is a facility set up in a territory which transforms local biomass into a wide range of products and energy. Contrary to the port biorefineries where raw materials are mainly imported, their sourcing is carried out on a more restricted area or even on a local area. Indeed, they are characterized by the importance of their integration process as they maintain more or less close links with the territory, especially with the farming community. In addition to being a source of income for farmers, these biorefineries create new opportunities for non-farm sectors. Recently, research has been conducted to assess biorefinery sustainability. However, the balance between the three pillars of sustainable development is not established as studies focus more on environmental assessments to the detriment of socioeconomic dimensions. In addition, socioeconomic assessments of rural agro-industrial projects are often limited to economic indices, which are not sufficient to evaluate the fallout on the territory. Then, the purpose of this paper is to propose a socioeconomic evaluation grid to measure the territorial embeddedness of rural biorefineries. |
| Keywords: | Rural biorefinery,Socio-economic impact,Assessment,territorial embeddedness |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02000724&r=all |
| By: | Gawlik, Remigiusz |
| Abstract: | The monograph constitutes a crowning of research led in the field of particular methodology of management science, in the field of enhancing managerial decision-making sub-discipline in frames of the practical stream of the management science discipline. The monograph is a development of the research project in which the elaboration of a scientific method for the enhancement of managerial decision-making processes through the Modular Multicriteria Managerial Decision-Making Model (MMUMADEMM) has been proposed. |
| Keywords: | MCDM; AHP; fuzzy sets, fuzzy logic, decision-making |
| JEL: | C35 C44 D81 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:92140&r=all |