Abstract

Economic theory claims that contracts renegotiation prevents from reaching the informationally constrained efficient solution that could have been obtained under full commitment. Assessing the cost of renegotiation compared to the full commitment scenario still remains an open issue from an empirical viewpoint. To address this question, 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. First, only two types of contracts are used in practice (fixed-price and cost-plus). Second, subsidies are greater when a cost-plus contract was signed earlier on than following a fixed-price contract. We then compare a scenario with renegotiation and a hypothetical situation with full commitment. We conclude that the welfare gains from improving commitment would be significant but would accrue mostly to operators. Document type: Preprint

Abstract

This paper appears also as Serie: Working paper series in economics ; No. 61, September 2014. ISSN 2190-9806; International audience; We analyse the potential for shifting freight transports to the railways in Western and Central Europe. This potential arises for large and concentrated freight flows over long distances of about 300 km or more. However, we show that there are only few such freight flows in Europe, and that they are concentrated or connected to the central European population centers, sometimes called the "Blue Banana". As a consequence, the European railway freight corridors according to EU Regulation 913/2010 should be divided into two distinct groups: first tier and second tier corridors. Substantial innovations should be introduced on the first tier corridors first, in order to increase efficiency and reduce noise. This refers to core innovations for rolling stock like the introduction of automatic couplings, electronic or electro-pneumatic brakes, and modern bogies.

Abstract

bility of pricing changes in the transport sector : how to reconcile efficiency and equity ? – This paper elaborates an analytical framework of the acceptability of pricing changes in the transport sector. This framework is built on the confrontation of the economic efficiency, territorial equity, horizontal equity, and vertical equity dimensions. This analytical framework is then applied to some ongoing urban and suburban road toll schemes in various countries. The analysis shows that these efficiency and equity dimensions combine themselves, by most often reinforcing the ones the others in their negative or positive aspects. This analysis also shows that these various dimensions of equity cannot be ignored on pain of failure. It enables us to identify the ways according to which the acceptability of urban road pricing could be improved. Un cadre d'analyse de l'acceptabilité des changements tarifaires dans le secteur des transports est élaboré. Ce cadre analytique est bâti sur la confrontation des dimensions de l'efficacité économique, de l'équité territoriale, de l'équité horizontale et de l'équité verticale. Ce cadre analytique est appliqué à quelques expériences de péages routiers urbains ou suburbains dans divers pays. Leur analyse montre que les dimensions de l'efficacité et de l'équité se conjuguent, en se renforçant le plus souvent les unes les autres dans leurs aspects négatifs ou positifs. Cette analyse montre aussi que ces différentes dimensions de l'équité ne peuvent être ignorées sous peine d'échec. Elle permet ainsi d'identifier les voies selon lesquelles l'acceptabilité de la tarification de la circulation urbaine pourrait être améliorée.