Logo
Munich Personal RePEc Archive

PPPs in the rail sector - A review of 27 projects

Dehornoy, Julien (2012): PPPs in the rail sector - A review of 27 projects.

[thumbnail of MPRA_paper_38415.pdf]
Preview
PDF
MPRA_paper_38415.pdf

Download (240kB) | Preview

Abstract

PPPs in the rail sector have become increasingly common in the last two decades. They have been praised and criticized for a variety of reasons. This paper provides a comprehensive study of all rail PPPs to date, in order to observe long term trends and to quantify to potential of failure or success of such PPPs. Our key finding is that optimization of risk management explains two major trends : (i) projects are moving from integrated, stand-alone systems toward sub-systems with complex interfaces with other networks or sub-systems, (ii) moral hazard, incomplete contracts and strategic bahaviors create an incentive for concessionaires to make over-optimistic ridership forecasts and explain why most traffic-based concessions failed.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.