Managing Commodity Risks in Highway Contracts: Quantifying Premiums, Accounting for Correlations Among Risk Factors, and Designing Optimal Price-Adjustment Contracts
It is a well-known fact that macro-economic conditions, such as prices of commodities (e.g. oil, cement and steel) affect the cost of construction projects. In a volatile market environment, highway agencies often pass such risk to contractors using fixed-price contracts. In turn, the contractors re...
| Main Author: | |
|---|---|
| Other Authors: | |
| Format: | Others |
| Language: | en_US |
| Published: |
2012
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/1969.1/ETD-TAMU-2011-12-10044 |