Analysis of the Optimal Sharing of Construction Risk in Public Procurement Contracts

This paper discusses a model based on the agency theory to analyze the optimal transfer of construction risk in public works contracts. The base assumption is that of a contract between a principal (public authority) and an agent (firm), where the payment mechanism is linear and contains an incentive mechanism to enhance the effort of the agent to reduce construction costs. A theoretical model is proposed starting from a cost function with a random component and assuming that both the public authority and the firm are risk averse. The main outcome of the paper is that the optimal transfer of construction risk will be lower when the variance of errors in cost forecast, the risk aversion of the firm and the marginal cost of public funds are larger, while the optimal transfer of construction risk will grow when the variance of errors in cost monitoring and the risk aversion of the public authority are larger

Assessing the landscape value of public works: validation of the method in the lowlands of the middle section of the Tajo river (Spain)

This paper proposes a method of landscape characterisation and assessment of public works associated with fluvial landscapes, which is validated in the middle section of the Tajo River. In this method, a set of criteria is identified that unifies various characteristics of the landscape associated to the infrastructures. A specific weight is then assigned to each criterion in such a way as to produce a semi-quantitative value ranging from a minimum value of 0 to a maximum value of 10. Taken together, these criteria enable us to describe and assess the value of the public works selected for study, in this case helping us to evaluate the sections of the River Tajo analysed in our study area. Accordingly, the value of all the infrastructures associated to a stretch of the river covering several hundred kilometres was determined and after dividing this stretch into sections, they were compared under equivalent conditions to provide a hierarchal ranking.

Application of the agency theory for the analysis of performance-based mechanisms in road management

El WCTR es un congreso de reconocido prestigio internacional en el ámbito de la investigación del transporte, y aunque las actas publicadas están en formato digital y sin ISSN ni ISBN, lo consideramos lo suficientemente importante como para que se considere en los indicadores. This paper develops a model based on agency theory to analyze road management systems (under the different contract forms available today) that employ a mechanism of performance indicators to establish the payment of the agent. The base assumption is that of asymmetric information between the principal (Public Authorities) and the agent (contractor) and the risk aversion of this latter. It is assumed that the principal may only measure the agent?s performance indirectly and by means of certain performance indicators that may be verified by the authorities. In this model there is presumed to be a relation between the efforts made by the agent and the performance level measured by the corresponding indicators, though it is also considered that there may be dispersion between both variables that gives rise to a certain degree of randomness in the contract. An analysis of the optimal contract has been made on the basis of this model and in accordance with a series of parameters that characterize the economic environment and the particular conditions of road infrastructure. As a result of the analysis made, it is considered that an optimal contract should generally combine a fixed component and a payment in accordance with the performance level obtained. The higher the risk aversion of the agent and the greater the marginal cost of public funds, the lower the impact of this performance-based payment. By way of conclusion, the system of performance indicators should be as broad as possible but should not overweight those indicators that encompass greater randomness in their results.

Application of Public Private Partnerships to the Spanish Airport System

The current deficit situation of the Spanish airport system suggests the need to manage this in a more efficient and profitable way. One of the possible options is through private management and being able to do this through Public Private Partnerships (PPP). This study analyzes the situation of the sector and its economic importance and the different possibilities for introducing private management in a public company, specifying the situation in the case of airports, presenting the advantages and disadvantages of these possibilities, and aiming at results obtained in other places where it has been applied. It is proposed that the ideal model for the introduction of private management would be through PPP models tailored to each airport, but having common characteristics according to the group they belong to. Finally, we observe that not all airports are commercially attractive, so that the PPP concept does not apply to all of them. In some cases even the operability itself is not viable at all, and that should be considered separately in order to avoid creating a private monopoly while trying to enhance competition among them.

Offices for Delegation of Public Health, Almería (Spain) 2002

OFFICES FOR DELEGATION OF PUBLIC HEALTH, ALMERÍA (SPAIN) 2002

New York: the revitalization of public space. Recent interventions in the Manhattan grid

La reticula de Nueva York ha sido un formato de nuevos planteamientos de "hacer ciudad" desde hace dos siglos. Esta ultima decada ha suspuesto un periodo fructifero para el espacio publico neoyorkino bajo la administracion de Michael Bloomerg. Esta revitalizacion no habria podido ser posible sin la reactivacion de factores de espacio publico que ya existian: la reticula, la legislacion publica y el rol del ciudadano. El ciudadano juega un papel fundamental en la ciudad, ya que es usuario, critico y promotor de espacio publico. Sin embargo, en ocasiones no es evidente para quien o quienes estan pensados los nuevos espacios publicos en la ciudad. Desde esta perspectiva, podemos identificar diferentes usuarios en la ciudad y analizar formulas recientes de espacio publico para cada uno de ellos: el vecino, el ciudadano, y el visitante. En palabras de Jane Jacobs: " las ciudades tienen la capacidad de proveer algo para todo el mundo, solo porque, y solo cuando, han sido proyectadas por todo el mundo".

El comportamiento del viento en la morfología urbana y su incidencia en el uso estancial del espacio público, Punta Arenas, Chile = The behavior of wind in urban morphology and its incidence in the resting use of public space, Punta Arenas, Chile

El comportamiento del viento en la morfología urbana y su incidencia en el uso estancial del espacio público, Punta Arenas, Chile = The behavior of wind in urban morphology and its incidence in the resting use of public space, Punta Arenas, Chile

Outraged spatialities: the production of public scale in the #spanishrevolution

The spatial processes deployed by the 15-M movement in Spain include elements of social change that exceed the limits of conventional politics. Located at a liminal level, these processes operate in the often unnoticed realm of the micro-politics of urban everyday life and the regimes of place that regulate it, providing new criteria for understanding sociospatial and urban phenomena. This article shows how public space, its representations and the spatialities associated with them have served as a support for, have determined and, ultimately, have been reshaped and transformed by the Spanish “indignados” (outraged), in particular in the city and the metropolitan area of Madrid. Drawing on a series of theoretical approaches to the articulation of recent revolts, the deployment of a prefigurative politics and the occupation of public space, I will give an experience-based account of the spatial constitution and effects of these connections in and around Madrid’s Puerta del Sol. As a whole, the indignados’ occupations and actions provide urban theory with conceptual and practical tools to imagine alternative forms of collective commitment in the production of spaces of hope for social progress and generalized self-management.