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

Programm zu dem ausgeschriebenen Concurse um den Preis, welchen das k.k. österreichische Ministerium für Handel, Gewerbe und öffentliche Bauten für die entsprechendste Construction einer zu den transporten auf der Eisenbahn über das Semmering-Gebirge geeigneten Locomotive bestimmt hat. Program of a prize offered for public competition...for the most suitable construction of a locomotive adapted to convey goods and passengers on the railway over the Semmering Mountain.

English or German.

Construction and analysis of achievement tests; the development of written and performance tests of achievement for predicting job performance of public personnel,

"Selected references" at end of each chapter.

St. Lawrence Seaway : hearings before the Committee on Public Works, House of Representatives, Eighty-third Congress, first session on H.J.Res. 104, providing for creation of the St. Lawrence Seaway Development Corporation to construct part of the St. Lawrence seaway in United States territory in the interest of national security; authorizing the Corporation to consumate certain arrangements with the St. Lawrence Seaway Authority of Canada relative to construction and operation of the seaway; empowering the Corporation to finance the United States share of the seaway cost on a self-liquidating basis; and for other purposes.

"No. 83-88".

Rivers and harbors bill, 1948. Hearings before the Subcommittee on Rivers and Harbors of the Committee on Public Works, House of Representatives, Eightieth Congress, second session, on H.R. 6419 (Title I) authorizing the construction, repair, and preservation of certain public works on rivers and harbors for navigation, flood control, and for other purposes. February 11, 12, March 8, 11, 24, April 5, 8, 19, 30, 1948.

"No. 18."

Public libraries. : A treatise on their design, construction, and fittings.

Mode of access: Internet.

Baie Verte Canal : report of the chief engineer of public works on the construction of a canal between the Gulf of St. Lawrence and the Bay of Fundy.

Published also in French.

Construction reports. Housing authorized by building permits and public contracts.

Mode of access: Internet.

Compilation of selected public health laws : including particularly the Public Health Service Act, the Clean Air Act, the Solid Waste Disposal Act, the Mental Retardation Facilities and Community Mental Health Centers Construction Act, and the Federal Water Pollution Control Act.

Mode of access: Internet.

Federal-aid highway act of 1948. Hearings before the Subcommittee on Roads of the Committee on Public Works, House of Representatives, Eightieth Congress, second session, on H.R. 5888 (H.R. 4867 and H.R. 4868) bills to amend and supplement the Federal aid road act approved July 11, 1916 (39 Stat. 355), as amended and supplemented, to authorize appropriations for continuing the postwar construction of highways, and for other purposes. January 29, 30, February 5, 6, 16, 17, and18, 1948.

"No. 16."

Impact of funding EPA sewer treatment construction program on small business contractors [microform] : hearing before the Select Committee on Small Business and the Subcommittee on Environmental Pollution of the Committee on Environment and Public Works, United States Senate, Ninety-sixth Congress, second session, on impact of funding EPA sewer treatment construction program on small business contractors, Milwaukee, Wis., July 9, 1980.

CIS Microfiche Accession Numbers: CIS 81 S721-3

Observations on the construction : text : and fitting up of meeting houses, &c. for public worship ; illustrated by plans, sections, and description, including one lately erected in the City of York ; embracing, in particular, the method of warming and ventilating /

Smith, J. Descriptive catalogue of Friends’ books,

2002 application guidelines : Community Development Assistance Program : competitive public facilities construction and design engineering : emergency public facilities.

The Community Development Block Grant (CDBG) Program was established by the federal Housing and Community Development Act of 1974 (Act). Administered nationally by the U.S. Department of Housing and Urban Development (HUD), the Act combined eight existing categorical programs into a single block grant program. In 1981, Congress amended the Act to allow states to directly administer the block grant for small cities. At the designation of the Governor, the Department of Commerce and Community Affairs assumed operation of the State of Illinois Community Development Block Grant -- Small Cities Program in the same year. The Illinois Block grant program is known as the Community Development Assistance Program (CDAP). Through this program, funds are available to assist Illinois communities meet their greatest economic and community development needs, with an emphasis upon helping persons of low-to-moderate income.