Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 31, 2010 erstellt
Description:
In this paper we model concession contracts between a public and a private party, under dynamic uncertainty arising both from the volatility of the cash flow generated by the project and by the strategic behaviour of the two parties. Under these conditions we derive three notions of equilibrium price and apply the model to a case study for one of the most important concession contracts in Italy