Contracting out public transit operation services: an incentive performance-based approach
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/23930 |
Resumo: | The literature on public transit services contracting, emphasizes the need of efficient contracting designs to promote parties’ interest alignment. There is, however, limited research addressing specific incentive mechanisms. The paper contributes to that literature by developing a performance-based model with an embedded incentive bonus/malus (B/M) mechanism for contracting out transit services. Monte Carlo simulation documents that model’s performance appears sensitive to stochastic specification of some of the B/M drivers, and responsive to changes in the contractual performance factors out of the sub-concessionaire’s control. Evidence on the operation of a light-rail transit system designed based on a version of the model, document that it may contribute to promote ridership patronage, increase the average ride, and ultimately promote the economic operating efficiency of the system. Some policy implications are drawn, namely in terms of public funds allocative efficiency, and promotion of social welfare in contracting transit services. |
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Contracting out public transit operation services: an incentive performance-based approachPublic TransportationPrivatizationPerformance-Based ContractingBonus/Malus MechanismThe literature on public transit services contracting, emphasizes the need of efficient contracting designs to promote parties’ interest alignment. There is, however, limited research addressing specific incentive mechanisms. The paper contributes to that literature by developing a performance-based model with an embedded incentive bonus/malus (B/M) mechanism for contracting out transit services. Monte Carlo simulation documents that model’s performance appears sensitive to stochastic specification of some of the B/M drivers, and responsive to changes in the contractual performance factors out of the sub-concessionaire’s control. Evidence on the operation of a light-rail transit system designed based on a version of the model, document that it may contribute to promote ridership patronage, increase the average ride, and ultimately promote the economic operating efficiency of the system. Some policy implications are drawn, namely in terms of public funds allocative efficiency, and promotion of social welfare in contracting transit services.Social Science Research NetworkRepositório da Universidade de LisboaPinto, João M.Santos, Mário Coutinho dosMatos, Pedro Verga2022-03-28T10:12:32Z2021-072021-07-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/23930engPinto, João M.. Mário Coutinho dos Santos and Pedro Verga Matos .2021. "Contracting out public transit operation services: an incentive performance-based approach". Social Science Research Network, p. 1-31.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:53:34Zoai:www.repository.utl.pt:10400.5/23930Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:08:02.628601Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Contracting out public transit operation services: an incentive performance-based approach |
title |
Contracting out public transit operation services: an incentive performance-based approach |
spellingShingle |
Contracting out public transit operation services: an incentive performance-based approach Pinto, João M. Public Transportation Privatization Performance-Based Contracting Bonus/Malus Mechanism |
title_short |
Contracting out public transit operation services: an incentive performance-based approach |
title_full |
Contracting out public transit operation services: an incentive performance-based approach |
title_fullStr |
Contracting out public transit operation services: an incentive performance-based approach |
title_full_unstemmed |
Contracting out public transit operation services: an incentive performance-based approach |
title_sort |
Contracting out public transit operation services: an incentive performance-based approach |
author |
Pinto, João M. |
author_facet |
Pinto, João M. Santos, Mário Coutinho dos Matos, Pedro Verga |
author_role |
author |
author2 |
Santos, Mário Coutinho dos Matos, Pedro Verga |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Pinto, João M. Santos, Mário Coutinho dos Matos, Pedro Verga |
dc.subject.por.fl_str_mv |
Public Transportation Privatization Performance-Based Contracting Bonus/Malus Mechanism |
topic |
Public Transportation Privatization Performance-Based Contracting Bonus/Malus Mechanism |
description |
The literature on public transit services contracting, emphasizes the need of efficient contracting designs to promote parties’ interest alignment. There is, however, limited research addressing specific incentive mechanisms. The paper contributes to that literature by developing a performance-based model with an embedded incentive bonus/malus (B/M) mechanism for contracting out transit services. Monte Carlo simulation documents that model’s performance appears sensitive to stochastic specification of some of the B/M drivers, and responsive to changes in the contractual performance factors out of the sub-concessionaire’s control. Evidence on the operation of a light-rail transit system designed based on a version of the model, document that it may contribute to promote ridership patronage, increase the average ride, and ultimately promote the economic operating efficiency of the system. Some policy implications are drawn, namely in terms of public funds allocative efficiency, and promotion of social welfare in contracting transit services. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-07 2021-07-01T00:00:00Z 2022-03-28T10:12:32Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/23930 |
url |
http://hdl.handle.net/10400.5/23930 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Pinto, João M.. Mário Coutinho dos Santos and Pedro Verga Matos .2021. "Contracting out public transit operation services: an incentive performance-based approach". Social Science Research Network, p. 1-31. |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Social Science Research Network |
publisher.none.fl_str_mv |
Social Science Research Network |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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