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IR07-006_Albalate-Bel.pdf (315.39 KB)

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Working paper

Publication date

2007

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cc-by-nc-nd, (c) Albalate et al., 2007
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/63548

Regulating Concessions of Toll Motorways, An Empirical Study on Fixed vs. Variable Term Contracts

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Abstract

Recent theoretical developments on concession contracts for long term infrastructure projects under uncertain demand show the benefits of allowing for flexible term contracts rather than fixing a rigid term. This study presents a simulation to compare both alternatives by using real data from the oldest Spanish toll motorway. For this purpose, we analyze how well the flexible term would have performed instead of the fixed length actually established. Our results show a huge reduction of the term of concession that would have dramatically decreased the firm’s benefits and the user’s overpayment due to the internalization of an unexpected traffic increase.

Subject

Concessions administratives, Autopistes, Política de transports, Infraestructures (Transport), Privatització, Control de gestió

Subject (English)

Concessions, Express highways, Transportation and state, Transportation buildings, Privatization, Management audit

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Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

Citation

ALBALATE, Daniel, BEL I QUERALT, Germà and FAGEDA, Xavier. Regulating Concessions of Toll Motorways, An Empirical Study on Fixed vs. Variable Term Contracts. IREA – Working Papers. 2007. Vol.  IR07/06. ISSN 2014-1254. [consulted: 12 of August of 2026]. Available at: https://hdl.handle.net/2445/63548

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