6 resultados para Optimal public spending

em Universidad Politécnica de Madrid


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We investigate optimal strategies to defend valuable goods against the attacks of a thief. Given the value of the goods and the probability of success for the thief, we look for the strategy that assures the largest benefit to each player irrespective of the strategy of his opponent. Two complementary approaches are used: agent-based modeling and game theory. It is shown that the compromise between the value of the goods and the probability of success defines the mixed Nash equilibrium of the game, that is compared with the results of the agent-based simulations and discussed in terms of the system parameters.

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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

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This paper describes a theoretical model based primarily on transaction costs, for comparing the various tendering mechanisms used for transportation Public-Private Partnership (PPP) projects. In particular, the model contrasts negotiated procedures with the open procedure, as defined by the current European Union legislation on public tendering. The model includes both ex ante transaction costs (borne during the tendering stage) and ex post transaction costs (such as enforcement costs, re-negotiation costs, and costs arising from litigation between partners), explaining the trade-off between them. Generally speaking, it is assumed that the open procedure implies lower transaction costs ex ante, while the negotiated procedure reduces the probability of the appearance of new contingencies not foreseen in the contract, hence diminishing the expected value of transaction costs ex post. Therefore, the balance between ex ante and ex post transaction costs is the main criterion for deciding whether the open or negotiated procedure would be optimal. Notwithstanding, empirical evidence currently exists only on ex ante transaction costs in transportation infrastructure projects. This evidence has shown a relevant difference between the two procedures as far as ex ante costs are concerned, favouring the open procedure. The model developed in this paper also demonstrates that a larger degree of complexity in a contract does not unequivocally favour the use of a negotiated procedure. Only in those cases dealing with very innovative projects, where important dimensions of the quality of the asset or service are not verifiable, may we observe an advantage in favour of the negotiated procedure. The bottom line is that we find it difficult to justify the employment of negotiated procedures in most transportation PPP contracts, especially in the field of roads. Nevertheless, the field remains open for future empirical work and research on the levels of transaction costs borne ex post in PPP contracts, as well as on the probabilities of such costs appearing under any of the procurement procedures.

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Cascade is an information reconciliation protocol proposed in the context of secret key agreement in quantum cryptography. This protocol allows removing discrepancies in two partially correlated sequences that belong to distant parties, connected through a public noiseless channel. It is highly interactive, thus requiring a large number of channel communications between the parties to proceed and, although its efficiency is not optimal, it has become the de-facto standard for practical implementations of information reconciliation in quantum key distribution. The aim of this work is to analyze the performance of Cascade, to discuss its strengths, weaknesses and optimization possibilities, comparing with some of the modified versions that have been proposed in the literature. When looking at all design trade-offs, a new view emerges that allows to put forward a number of guidelines and propose near optimal parameters for the practical implementation of Cascade improving performance significantly in comparison with all previous proposals.

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The third Training School of the Action took place in Vitoria-Gasteiz (Basque country, Spain) from 24th to 26th September 2014. Vitoria-Gateiz has experimented an important urban outgrowth in the last decade, mainly through the planning and development of two new neighborhoods, Zabalgana and Salburúa, situated at the eastern and western border of the city, by the Greenbelt. These new development are well-equipped and designed according to sustainability principles. Nevertheless, among the main problems they present is their over-dimensioned public space, which creates some areas lacking enough density and mix of uses. On the other hand it is very expensive for the municipality to maintain these public space with the high Vitorian urban standards for public space. The proposed solution for this problem is a strategy of "re-densification" through the insertion of new uses The debate has arisen about which are the most adequate uses to insert in order to get an increasing of urban vitality, specially considering that housing has reached its peak and that Vitoria-Gasteiz is well served with social and sport amenities. The main goal of the TS was to offer an opportunity for the reflection about how urban agriculture might be an optimal alternative for the re-qualifying of this over-dimensioned public space in the new neighbourhoods, especially considering it synergic potential as a tool for production, leisure and landscaping, including the possibility of energy crops within the limits of urban space. Continuity with rural and natural surrounding area through alternatives for urban fringe at the small scale is a relevant issue to be considered as well within the reflection. Taking Zabalgana neighbourhood as a practical field for experiment, the Training School is conceived as a practical and intensive design charrette to be held during a whole day after two days of local knowledge-deepening through field visits and presentations.

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Changes in the roles of the government and the private sector in the provision of public services along with budget constraints are resulting in an increasing use of the concession approach for financing and managing roads. In the last few years, many of these contracts set up incentives linked to bonuses to encourage the concessionaire to render a better service to the users. Road safety is one the aspects on the basis of which concessionaires can be rewarded according to their performance. The goal of this paper is to evaluate whether road safety incentives are being defined in the right way nowadays in different European countries and also identify what incentives would need to be implemented to achieve a socially optimal road safety level. To that end, we develop a specific incentive for road concession contracts that encourages companies to achieve the optimal level. We apply this methodology to three case studies of concessions recently awarded in order to determine to what extend the incentives they set up are closer or farther to the optimum.