COMPETING FACILITIES PROVISIONS IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS: CURRENT PRACTICE AND VALUATION

dc.contributor.advisorCui, Qingbinen_US
dc.contributor.authorWeaver, Emmaen_US
dc.contributor.departmentCivil Engineeringen_US
dc.contributor.publisherDigital Repository at the University of Marylanden_US
dc.contributor.publisherUniversity of Maryland (College Park, Md.)en_US
dc.date.accessioned2017-09-13T05:34:02Z
dc.date.available2017-09-13T05:34:02Z
dc.date.issued2017en_US
dc.description.abstractRecently in the US, Public-Private Partnerships (P3) have been increasingly utilized as a mechanism for closing the gap between revenues and expenditures in transportation mega-projects, however public perception remains a major challenge to successful utilization. Recent projects have run into issues with public perception particularly where non-compete provisions are utilized. The conventional wisdom is that non-compete provisions in public-private partnership contracts are a zero-sum game, in which the losses of one party directly balance the gains of the other. However, the design and selection of non-compete provisions can be such that the objectives of the public and private sectors are aligned. This study examines the non-compete provisions in P3 contracts in the US to date and the associated risk. Real options analysis is then utilized to value the flexibility lost to non-compete provisions. The SR 91 Express Lanes in California is used as a case study to illustrate this method.en_US
dc.identifierhttps://doi.org/10.13016/M28W3830W
dc.identifier.urihttp://hdl.handle.net/1903/19786
dc.language.isoenen_US
dc.subject.pqcontrolledCivil engineeringen_US
dc.subject.pquncontrolledpartnershipen_US
dc.subject.pquncontrolledpublic-private partnershipen_US
dc.subject.pquncontrolledreal optionsen_US
dc.titleCOMPETING FACILITIES PROVISIONS IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS: CURRENT PRACTICE AND VALUATIONen_US
dc.typeThesisen_US

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