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Rigidity in public contracts: Implications for renewal dynamics

Author

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  • Jean Beuve

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

  • Marian Moszoro

    (International Monetary Fund (IMF))

  • Stéphane S. Saussier

    (LAB IAE Paris - Sorbonne - IAE Paris - Sorbonne Business School)

Abstract

We investigate how the rigidity of public contracts influences the frequency of their renewal. Using a dataset of contracts for public–private car parks and employing machine-reading techniques to assess contract rigidity, we find that heightened contract rigidity, particularly in litigation clauses, significantly raises the probability of contract renewal. Our findings indicate that procedural sunk costs and the competitive advantage conferred to incumbents by contract rigidity are key factors contributing to more frequent renewals. This study enhances our comprehension of public contract renewals by emphasizing the significance of political contestability and rigidity, providing valuable insights into optimal strategies for contract renegotiation.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Jean Beuve & Marian Moszoro & Stéphane S. Saussier, 2024. "Rigidity in public contracts: Implications for renewal dynamics," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-04887903, HAL.
    • Handle: RePEc:hal:cesptp:hal-04887903
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