FEEM's e-journal the "Review of Environment, Energy and Economics" is a tool for the dissemination of the work and research-based policy analysis of FEEM researchers and leading international scholars, covering the areas of environmental and energy economics and policy, and offering new insights into the challenges ahead.

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Mar
13
2014
 
Time Overruns in Public Procurement and Concession Contracts: penalty fee and option value to delay
by Chiara D'Alpaos and Sergio Vergalli
Economics - Articles
 

Evidence from procurement and concession contracts shows that time overruns are widespread. This article summarizes two studies that investigate causes of time overruns in public procurement and concession contracts and determine the trade-off between the supplier’s option value to delay and the penalty fee to be paid for the delay.



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