TECHNIS is pleased to invite you to a free webinar. TECHNIS webinars focus on IP and innovation examining recent legal, economic, managerial, ethical and policy issues related to technological innovation. Our approach is interdisciplinary and presentations are given by experts in different fields such as economics, law, management, STS, sociology, anthropology and philosophy. Webinar presentations last for 20min and are followed by a 40min discussion.

Please join us for a webinar on Tuesday the 14th of Jan. 2020 at 11:00 London time i.e. 12:00 Brussels time, 13:00 Athens time. The speaker is Dimitrios Zormpas, University of Bologna.

The title of the talk is "Excess returns in Public-Private Partnerships: Do governments pay too much?".

The moderator will be Dr. Andreas Panagopoulos.

The program we use to deliver webinars is called FreeConference. It is a browser based program and it requires Google Chrome.

To join us follow this link: https://hello.freeconference.com/conf/call/3011249

This webinar is free and open to all.

To participate and for further information, please contact Dr. Andreas Panagopoulos at least a day prior to the seminar.

Abstract:

We study the optimal design of Public-Private Partnerships (PPPs) when there is unobservable action
on the private party's side. We show that if the private party does not have negotiating power over the
project's surplus, no inefficient delays are attributable to the moral hazard issue. However, if the private
party has negotiating power, the first-best timing is not guaranteed. This time discrepancy is shown to be
costly in terms of overall project efficiency. The explicit consideration of the private party's negotiating
power can explain empirical evidence showing that private parties in PPPs reap excess returns.

SPEAKER

Dimitrios Zormpas

University of Bologna.

DATE

Jan. the 14th, 2020

11:00 GMT to 12:00 GMT.

LOCATION

Event will be held online