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The Public Infrastructure Provision Toolbox within the Framework of the New Institutional Economics

Norayr Badasyan, Hans Wilhelm Alfen

The present paper analyzes the attributes of property rights and transaction cost underlying the development of the submodels in Public Infrastructure Provision (hereinafter PIP), which help to create the overall organizational model for the relevant projects. The paper also addresses the question of how a shift from one attribute of the property rights and transaction cost to another can lead to a change in the organizational model. In fact, the paper introduces the PIP in a new light analyzing the factors developing the submodels of the relevant projects. The adopted approach gives an opportunity to develop the most efficient organizational model for a relevant field by identifying and defining the most suitable attributes for the projects in the sphere.

Dr. (Armenia) Norayr Badasyan is a PhD Candidate and research assistant at the Chair of the Construction Economics at the Faculty of Civil Engineering of the Bauhaus-Universität Weimar in Germany. His main research interests focus on the organizational models in public infrastructure provision. Previously he has worked in different departments in the Government of Armenia, in the National Academy of Sciences of Armenia and was an Assistant Professor in the Armenian State University of Economics. Prof. Hans Wilhelm Alfen is the dean of the Faculty of Civil Engineering of the Bauhaus-Universität Weimar in Germany and General Manager of Alfen Consult GmbH. He has more than 25 years working experience in planning, financing, maintenance and operation of real estate and infrastructure projects. Previously has worked in about 25 countries in Europe, Africa, Asia and Latin America.


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