Optimizing performance-based mechanisms in road management: an agency theory approach
This paper develops a model based on the agency theory to analyse road management systems that employ a mechanism of performance indicators to establish the payment for the contractor. The base assumption is the asymmetric information between a principal (Public Authorities) and an agent (contractor...
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| Format: | Article |
| Language: | English |
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TU Delft OPEN Publishing
2015-09-01
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| Series: | European Journal of Transport and Infrastructure Research |
| Online Access: | https://journals.open.tudelft.nl/ejtir/article/view/3092 |