Replication data for: The Cost of Contract Renegotiation: Evidence from the Local Public Sector

Name: Replication data for: The Cost of Contract Renegotiation: Evidence from the Local Public Sector
Published: Tue Oct 01 00:00:00 EDT 2013
License: This work is licensed under an Other license created by the data depositor. Please refer to the LICENSE file, which should be located alongside the project data and documentation.
Keywords: Transport operators

Principal Investigator(s): View help for Principal Investigator(s) Philippe Gagnepain; Marc Ivaldi; David Martimort

Version: View help for Version V1

Name	File Type	Size	Last Modified
MS-AER-2010-1108-Gagnepain-Ivaldi-Martimort-Data-and-Programs			10/19/2021 01:58:PM
LICENSE.txt	text/plain	14.6 KB	10/11/2019 03:15:PM

Project Citation:

Gagnepain, Philippe, Ivaldi, Marc, and Martimort, David. Replication data for: The Cost of Contract Renegotiation: Evidence from the Local Public Sector. Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112676V1

Project Description

Summary: Contract theory claims that renegotiation prevents attainment of the efficient solution that could be obtained under full commitment. Assessing the cost of renegotiation remains an open issue from an empirical viewpoint. We fit a structural principal-agent model with renegotiation on a set of contracts for urban transport services. The model captures two important features of the industry as only two types of contracts are used (fixed price and cost-plus) and subsidies are greater following a cost-plus contract than following a fixed price one. We conclude that the welfare gains from improving commitment would be significant but would accrue mostly to operators.

Scope of Project

Subject Terms: Transport operators

JEL Classification:
      D82 Asymmetric and Private Information; Mechanism Design
      D86 Economics of Contract: Theory
      L51 Economics of Regulation
      L92 Railroads and Other Surface Transportation
      R42 Transportation Economics: Government and Private Investment Analysis; Road Maintenance, Transportation Planning
      R48 Transportation Economics: Government Pricing and Policy

Geographic Coverage: France

Time Period(s): 1987 – 2002

Data Type(s): administrative records data; observational data

Methodology

Data Source: Survey conducted by the Centre d'Etude et de Recherche du Transport Urbain (CERTU, Lyon) with the support of the Groupement des Autorites Responsables du Transport (GART, Paris).

Unit(s) of Observation: Operator - year,

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V1 [2019-10-11]

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