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on Project, Program and Portfolio Management |
| By: | Oleg Muratov |
| Abstract: | I consider an environment in which the entrepreneur generates information about the quality of the projects prior to contracting with the investor. The investor faces a moral hazard problem, since the entrepreneur may divert the funding for private consumption. When the investor bargains with the entrepreneur, I nd that the ecient amount of information is generated if and only if the bargaining power of the entrepreneur is high enough. I interpret this result in terms of investors' concentration, competitiveness, and generosity measures. I show that the investor prefers a non-absolute bargaining power when the project costs are high enough. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:ube:dpvwib:dp2014&r=all |
| By: | MAULEON Ana, (Université Saint Louis, Bruxelles); SCHOPOHL Simon, (Université Saint-Louis and CORE); TAALAIBEKOVA Akylai, (CORE, UCLouvain and Université Pars 1); VANNETELBOSCH Vincent, (CORE, UCLouvain) |
| Abstract: | We study a coordination game on a fixed connected network where players have to choose between two projects. Some players are moderate (i.e. they are ex-ante indifferent between both project) while others are stubborn (i.e. They always choose the same project). Benefits for moderaote players are increasing in the number of neighbors who choose the same project. In addition, players are either farsighted or myopic. Farsighted players anticipate the reactions of others while myopic players do not. We show that, when all players are farsighted, full coordination among the moderate players is reached except if there are stubborn players for both projects. When the population is mixed, the set of stable strategy profiles is a refinement of the set of Nash equilibrium strategy profiles. In fact, turning myopic players into farsighted ones eliminates little by little in the inefficient Nash equilibria. Finally, we consider a social planner who can improve coordination by means of two policy instruments: Adding links to the network (socialization) and/or turning myopic players into farsighted ones (education). |
| Keywords: | networks; coordination problems; stubborn players; farsighted players; stability |
| JEL: | A14 C70 D20 |
| Date: | 2020–02–11 |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvco:2020019&r=all |
| By: | Quisumbing, Agnes R.; Ahmed, Akhter; Hoddinott, John F.; Pereira, Audrey; Roy, Shalini |
| Abstract: | The importance of women’s roles for nutrition-sensitive agricultural projects is increasingly recognized, yet little is known about whether such projects improve women’s empowerment and gender equality. We study the Agriculture, Nutrition, and Gender Linkages (ANGeL) pilot project, which was implemented as a cluster-randomized controlled trial by the Government of Bangladesh. The project’s treatment arms included agricultural training, nutrition behavior change communication (BCC), and gender sensitization trainings to husbands and wives together – with these components combined additively, such that the impact of gender sensitization could be distinguished from that of agriculture and nutrition trainings. Empowerment was measured using the internationally-validated project-level Women’s Empowerment in Agriculture Index (pro-WEAI), and attitudes regarding gender roles were elicited from both men and women, to explore potentially gender-transformative impacts. Our study finds that ANGeL increased both women’s and men’s empowerment, raised the prevalence of households achieving gender parity, and led to small improvements in the gender attitudes of both women and men. We find significant increases in women’s empowerment scores and empowerment status from all treatment arms but with no significant differences across these. We find no evidence of unintended impacts on workloads and we note inconclusive evidence of possible increases in intimate partner violence (IPV). Our results also suggest some potential benefits of bundling nutrition and gender components with an agricultural development intervention; however, many of these benefits seem to be driven by bundling nutrition with agriculture. While we cannot assess the extent to which including men and women within the same treatment arms contributed to our results, it is plausible that the positive impacts of all treatment arms on women’s empowerment outcomes may have arisen from implementation modalities that provided information to both husbands and wives when they were together. The role of engaging men and women jointly in interventions is a promising area for future research. |
| Keywords: | BANGLADESH; SOUTH ASIA; ASIA; empowerment; gender; agricultural development; agriculture; nutrition; women; women's empowerment; randomized controlled trials; gender norms; nutrition-sensitive agriculture |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:ifprid:1957&r=all |
| By: | Marco Buso (Department of Economics and Finance, Catholic University of Sacred Heart and Interuniversity Centre for Public Economics (CRIEP)); 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 Â…financially loss-making. In a continuous-time setting with hidden information about operating profiÂ…ts, we show that an exit option, acting as a risk-sharing device, can soften agency problems and, in so doing, accelerate investment and increase the governmentÂ’'s expected payoff, even while taking into account the costs that the public sector will have to meet in the future to take direct responsibility on service provision. |
| Keywords: | Public Infrastructure Services, Public-Private Partnerships, Adverse Selection, Real Options, Early Termination Fees |
| JEL: | D81 D82 D86 H54 |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2020.03&r=all |
| By: | Savastano, Sara; Arslan, Aslihan; Balint, Tim; Rui Benfica, Rui; Cavatassi, Romina; Garbero, Alessandra; Mabiso, Athur; Paolantonio, Adriana; Songsermsawas, Tisorn; Winters, Paul |
| Abstract: | As stated in its Strategic Framework 2016-2025, the overarching goal for the International Fund for Agricultural Development (IFAD) is to invest in rural people to enable them to overcome poverty and achieve food security through remunerative, sustainable, and resilient livelihoods. IFAD pursues this goal through three closely interlinked and mutually reinforcing strategic objectives: (i) increasing rural people’s productive capacities; (ii) increasing rural people’s benefits from market participation; and (iii) strengthening the environmental sustainability and climate resilience of rural people’s economic activities. To hold itself accountable on progress made in achieving this goal and these three strategic objectives, IFAD has adopted a unique approach to reporting impact at the corporate level, building on rigorous project-level evaluations. This report provides the results of these efforts to assess the corporate impact of IFAD investments for the Tenth Replenishment of IFAD’s Resources (IFAD10) period of 2016-2018. Corporate impact is founded on the impact of individual IFAD-funded interventions. This report provides an overview of corporate impact estimates, which determine whether IFAD met its IFAD10 targets, as well as project-level results including lessons learned from the project-level analysis. The report includes the main results of the impact assessment of individual projects. Out of a total portfolio of 104 projects completed during the 2016-20181 replenishment period, 19 have been evaluated through 17 studies, spanning the five IFAD regions. Overall, the 17 impact assessments completed as part of IFAD10 show significant impacts on the lives of project beneficiaries relative to the corporate goal of greater economic mobility and its three supporting strategic objectives. In line with these findings, the results of the corporate impact assessment show that IFAD10 has exceeded its targets for its overall goal of fostering economic mobility and for two of the three strategic objectives. |
| Keywords: | Food Security and Poverty |
| Date: | 2019–12–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:unadia:305187&r=all |