We analyze how uncertainty regarding future climate conditions affects the design of concession contracts, organizational forms and technological choices in a principal-agent context with dynamic moral hazard, limited liability and irreversibility constraints. The prospect of future, uncertain...

This research paper has been developed with the intention of shedding light over the major challenges and remedies of rural economy in Afghanistan and also discussing explicitly about the women economic empowerment considering Afghanistan’s context. This paper has been prepared in two parts,...

This research paper has been developed with the intention of shedding light over the major challenges and remedies of rural economy in Afghanistan and also discussing explicitly about the women economic empowerment considering Afghanistan’s context. This paper has been prepared in two parts,...

Procurement professionals will increasingly be asked to play an important role in adapting to and mitigating the effects of climate change. Unfortunately, we don't have time to waste, either feeling hopeless or waiting for changes to the Federal Acquisition Regulation (FAR) and subsequent...

This paper is part of a subset of working papers within the Environment Working Paper series, presenting research on the enabling environment for investment in water security. The subset includes country and regional projects aimed at pilot testing the Scorecard, designed to assess the enabling...

This report outlines results from the initial pilot-testing of a Scorecard to assess the enabling environment for investment in water security, referred to as "the Scorecard”. Developed in collaboration with the Asian Development Bank and partners, the Scorecard aims to identify conditions for...

We revisit the contract-theoretic literature on privatization initiated by Hart et al. (1997). This literature has two major shortcomings. First, it is focused on ex-ante investment incentives, whereas ex-post inefficiencies which are ubiquitous in the real world cannot be explained. Second,...

Since 1989 and the regionalization of public transports in Belgium, the Société des transports intercommunaux de Bruxelles (STIB), i.e. the public operator of urban transport in Brussels, has undergone many changes, both structural and organizational. Meanwhile, the company has managed to...

Since 1989 and the regionalization of public transports in Belgium, the Société des transports intercommunaux de Bruxelles (STIB), i.e. the public operator of urban transport in Brussels, has undergone many changes, both structural and organizational. Meanwhile, the company has managed to...

In a context of asymmetry of information between firms' owners and their managers, we investigate the use of incentive contracts as strategic variables in an oligopoly industry. Moreover, we consider that the government has the possibilityto intervene in the market by nationalizing an incumbent...