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|Title:||Contracting out public transit services: a competitive performance-based approach|
|Authors:||Pinto, João M.|
Santos, Mário Coutinho dos
Matos, Pedro Verga
Bonus / malus mechanism.
|Publisher:||CICEE. Universidade Autónoma de Lisboa|
|Abstract:||This paper develops a bonus / malus incentive model to contracting out public transit services, and provides evidence on performance measures of a lightrail transit system operation, procured with a contract designed based on our modeling approach. Empirical results document that the implementation of a performance-based contract with an embedded incentive bonus / malus mechanism, may contribute to promote ridership patronage, increase the average ride, and ultimately significantly improving the overall economic operating efficiency of the system, measured by a 40 percent increase in the operating costs coverage ratio during the contract term.|
|Appears in Collections:||WPs_2021|
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