Julie DE BRUX -Séminaire doctoral- IAE Paris - Chaire ePPP/Vinci - "Should We Fear Renegotiations? An Application to the Car Park Management Sector in France"
Should We Fear Renegotiations? An Application to the Car Park Management Sector in France
Julie de Brux (Chaire EPPP & Vinci) et Claudine Desrieux (Université Paris II Panthéon-Assas/ ERMES & TEPP)
Using an incomplete contract framework, we model the consequences of non-contractible innovations in public-private partnerships (PPPs), signed in the French car park management sector. We show that the kind of contractual agreement and the number of contracts parties share, have an influence on the occurrence and outcome of renegotiations caused by these non-contractible innovations. Consequences are both on the level of incentives to innovate, and their impact on the global ex post surplus, as well as its allocation between parties.