Arbeitspapier

Auctioning Concessions for Private Roads

Private toll roads are now seriously considered as an alternative to public (free-access) road infrastructure. Nevertheless, complete private provision without governmental control is only rarely considered. A main consideration against private roads would be that operators would be primarily interested in maximizing profits, which – given the market power they will have – will typically not lead to welfare maximizing tolls and capacities. An important question is whether these discrepancies can be mitigated by a proper design of auctions for concessions of private roads. This paper therefore analyses capacity choice and toll setting by private investors in a competitive bidding framework organised by the government. We develop a two-link network simulation model with an untolled alternative to determine relative efficiency effects, and analyse rules for the government to organise the bidding process such that a more desired (welfare optimal) outcome is a! chieved. Our results show that, depending on the design of the auction, its outcomes may vary strongly, and may approach the maximum possible (second-best) welfare gains.

Sprache
Englisch

Erschienen in
Series: Tinbergen Institute Discussion Paper ; No. 04-008/3

Klassifikation
Wirtschaft
Thema
Traffic congestion
road pricing
private roads
second-best regulation
Straßenbau
Öffentlich-private Partnerschaft
Auktion
Straßenbenutzungsgebühr
Theorie

Ereignis
Geistige Schöpfung
(wer)
Ubbels, Barry
Verhoef, Erik
Ereignis
Veröffentlichung
(wer)
Tinbergen Institute
(wo)
Amsterdam and Rotterdam
(wann)
2004

Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Ubbels, Barry
  • Verhoef, Erik
  • Tinbergen Institute

Entstanden

  • 2004

Ähnliche Objekte (12)