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Publication Type
Conference Proceedings
Author, Analytic
Abdulkadri, Abdullahi O.; Duncan, D.R.
Author Role
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Author Affiliation
Department of Economics
Paper/Section Title
Optimal strategies in auctioning government contracts: The case of the highway 2000 project in Jamaica
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Proceedings Title
84th Annual meeting of the Southwestern Economics Association
Date of Meeting
March 17-20 (2004)
Place of Meeting
Corpus Christi, TX
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Abstract
The government of Jamaica has embarked on a massive road improvement project as part of its plan to revive the Jamaican economy. This improvement project involves the issuing of a number of road contracts which had attracted little interest until the awarding of the highway 2000 (H2K) concession contract. While it is generally accepted that the best way to issue concessions is via an auction, the exact strategy that should be used is still debatable. This paper presents a game theoretical analysis of the awarding phase of the H2K concession by the Jamaican government. The optimal strategies of the players involved are identified and then compared to the actual strategies used. The findings suggests that both government and the winning contractor played their optimal strategies.....
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