Memorias de investigación
Ponencias en congresos:
The effect of the discount rate in highway concessions awarded under the LPVR approach.
Año:2010
Áreas de investigación
  • Transporte terrestre
Datos
Descripción
Flexible-term highway concessions are becoming quite popular around the world as a means of mitigating the traffic risk ultimately allocated to the concessionaire. The most sophisticated mechanism within flexible-term concession approaches is the Least Present Value of the Revenues (LPVR). This mechanism consists of awarding the concession to the bidder who offers the least present value of the revenues discounted at a discount rate fixed by the government in the contract. Consequently, the concession will come to an end when the present value of the revenues initially requested has been eventually reached. The aim of this paper is to evaluate the effect that the discount rate established by the government in the bidding terms has on the traffic-risk profile ultimately allocated to the concessionaire. To analyse this effect, a mathematical model is developed in order to obtain the results. I found that the lower the discount rate the larger will be the traffic risk allocated to the concessionaire. Moreover, I found that, if a maximum term is established in the contract, the lower the discount rate, the less skewed towards the downside will be the traffic risk profile allocated to the concessionaire.
Internacional
Si
Nombre congreso
12th World Conference on Transport Research 2010
Tipo de participación
960
Lugar del congreso
Lisboa
Revisores
Si
ISBN o ISSN
978-98-99698-61-1
DOI
Fecha inicio congreso
11/07/2010
Fecha fin congreso
15/07/2010
Desde la página
420
Hasta la página
420
Título de las actas
Proceedings of the 12th World Conference on Transport Research 2010. Book of Abstracts
Esta actividad pertenece a memorias de investigación
Participantes
Grupos de investigación, Departamentos, Centros e Institutos de I+D+i relacionados
  • Creador: Grupo de Investigación: Planificación del Transporte
  • Departamento: Ingeniería Civil: Transportes
  • Centro o Instituto I+D+i: Centro de Investigación del Transporte