Contracts and incentives in the construction sector

The aim of this chapter is to examine what the construction sector brings to our understanding of the procurement of complex performance. The chapter is divided into the following parts: fi rst, an overview of the various matters that contribute to the complexity of construction procurement is provided. Second, the most important contractual incentive schemes found in construction contracts are discussed, and this is followed by, third, an examination of the changes associated with the shift towards procuring complex performance (PCP) (service provision). Fourth, the main findings of the authors’ recent research on PCP contracts are summarised, followed by the conclusion. It should be noted that the procurement of services is referred to as ‘PCP’ in this chapter.

Optimal water use: is anyone getting the right incentives in California?

This paper discusses ~he widespread inefficiency in water pricing today and uses the State of California as an example. After solving the Planner' s Problem I conclude that water for irrigation should cost more than for domestic use. The optimal price leveI can be calculated from a correct measure of the true marginal cost of supply.

Optimal provision of implicit and explicit incentives in asset management contracts

This paper investigates the importance of the fiow of funds as an implicit incetive provided by investors to portfolio managers in a two-period relationship. We show that the fiow of funds is a powerful incentive in an asset management contract. We build a binomial moral hazard model to explain the main trade-ofIs in the relationship between fiow, fees and performance. The main assumption is that efIort depend" on the combination of implicit and explicit incentives while the probability distrioutioll function of returns depends on efIort. In the case of full commitment, the investor's relevant trade-ofI is to give up expected return in the second period vis-à-vis to induce efIort in the first período The more concerned the investor is with today's payoff. the more willing he will be to give up expected return in the following periods. That is. in the second period, the investor penalizes observed low returns by withdrawing resources from non-performing portfolio managers. Besides, he pays performance fee when the observed excess return is positive. When commitment is not a plausible hypothesis, we consider that the investor also learns some symmetríc and imperfect information about the ability of the manager to generate positive excess returno In this case, observed returns reveal ability as well as efIort choices exerted by the portfolio manager. We show that implicit incentives can explain the fiow-performance relationship and, conversely, endogenous expected return determines incentives provision and define their optimal leveIs. We provide a numerical solution in Matlab that characterize these results.

Recurrent neural network for induction motor speed estimation in industry applications

Many electronic drivers for the induction motor control are based on sensorless technologies. The proposal of this work Is to present an alternative approach of speed estimation, from transient to steady state, using artificial neural networks. The inputs of the network are the RMS voltage, current and speed estimated of the induction motor feedback to the input with a delay of n samples. Simulation results are also presented to validate the proposed approach. © 2006 IEEE.

Tax incentives in Latin America

Includes bibliography

Transnational corporations and structural changes in industry in Argentina, Brazil, Chile and Mexico

Includes bibliography

Note on the harmonization of fiscal incentives to industry for 5th ECCM Meeting

Includes bibliography

Multimembership and Identity in Writing Centers and in Industry: Examining the Work of Reconciliation in the Michigan Tech Multiliteracies Center and at Kimberly-Clark Corporation

Writing center scholarship and practice have approached how issues of identity influence communication but have not fully considered ways of making identity a key feature of writing center research or practice. This dissertation suggests a new way to view identity -- through an experience of "multimembership" or the consideration that each identity is constructed based on the numerous community memberships that make up that identity. Etienne Wenger (1998) proposes that a fully formed identity is ultimately impossible, but it is through the work of reconciling memberships that important individual and community transformations can occur. Since Wenger also argues that reconciliation "is the most significant challenge" for those moving into new communities of practice (or, "engage in a process of collective learning in a shared domain of human endeavor" (4)), yet this challenge often remains tacit, this dissertation examines and makes explicit how this important work is done at two different research sites - a university writing center (the Michigan Tech Multiliteracies Center) and at a multinational corporation (Kimberly-Clark Corporation). Drawing extensively on qualitative ethnographic methods including interview transcriptions, observations, and case studies, as well as work from scholars in writing center studies (Grimm, Denney, Severino), literacy studies (New London Group, Street, Gee), composition (Horner and Trimbur, Canagarajah, Lu), rhetoric (Crowley), and identity studies (Anzaldua, Pratt), I argue that, based on evidence from the two sites, writing centers need to educate tutors to not only take identity into consideration, but to also make individuals' reconciliation work more visible, as it will continue once students and tutors leave the university. Further, as my research at the Michigan Tech Multiliteracies Center and Kimberly-Clark will show, communities can (and should) change their practices in ways that account for reconciliation work as identity, communication, and learning are inextricably bound up with one another.

Strategic Incentives in Unconventional Electoral Systems: Introduction to the Special Issue

The study of strategic behaviour and the impact of institutions on elections has mainly focused on simple and conventional electoral systems: list-proportional electoral systems (PR) and the plurality vote. Less conventional systems are not on the agenda of comparative studies, even though no less than 30% of countries use unconventional electoral systems for their national parliamentary elections, such as the Single Transferable Vote, PR with majority bonuses, or mixed electoral systems. Often, they provide for unusual combinations of different institutional incentives, and hence to particular actor strategies.

Implementation of safety based incentives in Public Private Partnerships (PPPs): an empirical analysis for the case of Spain

Public Private Partnerships (PPPs) are mostly implemented to circumvent budgetary constraints, and to encourage efficiency and quality in the provision of public infrastructure in order to reach social welfare. One of the ways of reaching the latter objective is by the introduction of performance based standards tied to bonuses and penalties to reward or punish the performance of the contractor. This paper focuses on the implementation of safety based incentives in PPPs in such a way that the better the safety outcome the greater larger will be the economic reward to the contractor. The main aim of this paper is to identify whether the incentives to improve road safety in PPPs are ultimately effective in improving safety ratios in Spain. To that end, Poisson and negative binomial regression models have been applied using information of motorways of the Spanish network of 2006. The findings indicate that even though road safety is highly influenced by variables that are not much controllable by the contractor such as the Average Annual Daily Traffic and the percentage of heavy vehicles, the implementation of safety incentives in PPPs has a positive influence in the reduction of fatalities, injuries and accidents.

Analysis of road safety incentives in highway concessions in Spain

Public Private Partnerships (PPPs) are mostly implemented for three reasons: to circumvent budgetary constraints, encourage efficiency and improvement of quality in the provision of public infrastructure. One of the ways of reaching the latter objective is by the introduction of performance-based standards tied to bonuses and penalties to reward or punish the performance of the contractor. These performance based standards often refer to different aspects such as technical, environmental and safety issues. This paper focuses on the implementation of safety based incentives in PPPs. The main aim of this paper is to analyze whether the incentives to improve road safety in PPPs are effective in improving safety ratios in Spain. To this end, negative binomial regression models have been applied using information from the Spanish high capacity network in 2006. The findings indicate that even though road safety is highly influenced by variables that are not much controllable by the contractor such as the Average Annual Daily Traffic and the percentage of heavy vehicles in the highway, the implementation of safety incentives in PPPs has a positive influence in the reduction of fatalities, injuries and accidents.

Effectiveness of safety-based incentives in Public Private Partnerships: Evidence from the case of Spain

Many countries around the world are implementing Public?Private?Partnership (PPP) contacts to manage road infrastructure. In some of these contracts the public sector introduces economic incentives to the private operator to foster the accomplishment of social goals. One of the incentives that have been introduced in some PPP contracts is related to safety in such a way that the better the safety outcome the greater will be the economic reward to the contractor. The aim of this paper is at identify whether the incentives to improve road safety in highway PPPs are ultimately effective in improving safety ratios. To this end Poisson and negative binomial regression models have been applied using information from highway sections in Spain. The findings indicate that even though road safety is highly influenced by variables that are not much controllable by the contractor such as the Average Annual Daily Traffic and the percentage of heavy vehicles, the implementation of safety incentives in PPPs has a positive influence in the reduction of fatalities, injuries and accidents.

Analysis of safety-based incentives in public private partnerships. The case of Spain

OUTLINE: • Introduction • Experimental Setup • Experimental Procedure • Experimental Results - Surface Roughness - Residual Stresses - Friction - Wear - EDX • Conclusions

Analysis of road safety incentives in highway concessions in Spain

Public Private Partnerships (PPPs) are mostly implemented for three reasons: to circumvent budgetary constraints, encourage efficiency and improvement of quality in the provision of public infrastructure. One of the ways of reaching the latter objective is by the introduction of performance-based standards tied to bonuses and penalties to reward or punish the performance of the contractor. These performance based standards often refer to different aspects such as technical, environmental and safety issues. This paper focuses on the implementation of safety based incentives in PPPs. The main aim of this paper is to analyze whether the incentives to improve road safety in PPPs are effective in improving safety ratios in Spain. To this end, negative binomial regression models have been applied using information from the Spanish high capacity network in 2006. The findings indicate that even though road safety is highly influenced by variables that are not much controllable by the contractor such as the Average Annual Daily Traffic and the percentage of heavy vehicles in the highway, the implementation of safety incentives in PPPs has a positive influence in the reduction of fatalities, injuries and accidents.