Maximizing the value for money of PPP arrangements through flexibility: An application to airports

Martins, José, Rc Marques () and Carlos Cruz ()

Journal of Air Transport Management, 2014, vol. 39, issue C, 72-80

Abstract: The economic crisis in most developed countries is fostering the search for new models for infrastructure planning and management. There is great uncertainty surrounding these investments and, therefore, it is necessary to capture the latent value from infrastructure projects. The principle is that the project should have the necessary flexibility to adapt to future changes, i.e., at the design stage it is necessary to incorporate flexible options that would allow the infrastructure and/or the service to be adapted to changes.

Keywords: Real options; Flexibility; Airport; Infrastructure; Phased investment option (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jaitra:v:39:y:2014:i:c:p:72-80

DOI: 10.1016/j.jairtraman.2014.04.003

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