This paper deals with the optimal provision of infrastructure by means of public-private partnership contracts. In the economic literature infrastructure is characterized as a large, indivisible and non-rival capital good that produces services for its users. Users can be both consumers and producers. Consumers may derive utility from infrastructure, either indirectly, because it facilitates th...

This paper argues that the degree to which a given industry’s labor contracts are complete or incomplete is the major factor determining whether its workforce will be unionized. For instance, assembly line industries feature complete labor contracts because of the nature of the production technology: Either a worker keeps up with the line, or he does not. In such a situation, there is no chance...

a r t i c l e i n f o Keywords: Material transfer agreements Payment for ecosystem services Non-monetary payment Moral satisfaction Probit with endogenous regressors This paper uses econometric analysis for understanding the determinants that affect the payment mechanism in material transfer agreements (MTAs). These contracts regulate the exchange of peculiar ecosystem services (genetic and bio...

Dynamic Contracts and Learning by Doing This paper studies the design of optimal contracts in dynamic environments where agents learn by doing. We derive a condition under which contracts are fully incentive compatible. A closed-form solution is obtained when agents have CARA utility. It shows that human capital accumulation strengthens the power of incentives and allows the principal to provid...

In recent years, cooperation between the state and private business is one of prerequisites for implementing strategy economic development Ukraine's economy. The separation forms models public-private partnership depending on industry, type form socio-economic significance projects will ensure creation a platform formation national competitiveness. purpose article to identify analyze domestic f...

Agricultural contracts and crop insurance are important ways for farmers to mitigate risks in modern U.S. agriculture. In this paper, we investigate the effect of crop insurance enrollment on farmers’ participation of marketing contracts. Following Ligon (2003), we setup a mechanism design framework to demonstrate an integrator’s contract design problem where farmers are assumed to be expected ...

insurer companies frequently reinsure part of their risks before reinsurers. the question of right of action of the insured against the reinsurer then arises. the common response to this question is negative because of the principle of the privacy of contracts. however, courts, particularly in the united states, have recognized this direct action on various grounds, especially in case of insolv...

Relational exchange arrangements supported by trust are commonly viewed as substitutes for complex contracts in interorganizational exchanges. Many argue that formal contracts actually undermine trust and thereby encourage the opportunistic behavior they are designed to discourage. In this paper, we develop and test an alternative perspective: that formal contracts and relational governance fun...

Background and objectives. Public-private partnership (PPP) is one of the most popular forms cooperation between state business in world. For Ukraine, PPP promising ways to attract investment existing municipal infrastructure. The Law Ukraine "On Public-Private Partnership" (2010) allows implementation projects format classic PPP. Most involved development infrastructure facilities mining, whic...