Financial sustainability of the waste treatment projects that follow PPP contracts in Greece: a formula for the calculation of the profi t rate

This paper examines the initial budget estimation process for the implementation of waste treatment projects through Public-Private Partnership (PPPs) in Greece. The study, having as strong theoretical foundation the project's financial analysis that is included in the cost benefit analysis methodology, evaluates the financial sustainability of a waste management project. Initially, the budget estimation process that is currently used under the conventional procurement of public projects in Greece is followed and the results demonstrate that the specific process, where the investor's Profit Rate (PR) takes specific values, cannot be used in the case of a PPP. Furthermore, a new formula is developed, which calculates the minimum value of the private sector's PR, in order to determine the existence of positive cash flows during the operational phase of the project and to ensure the partnership's financial sustainability. The new formula can be a useful tool to the public decision-makers in Greece, because it helps them to evaluate the financial sustainability of the waste treatment projects that follow PPP contracts, during the conceptual phase

On the Fair Division of Multiple Stochastic Pies to Multiple Agents within the Nash Bargaining Solution

<div><p>The fair division of a surplus is one of the most widely examined problems. This paper focuses on bargaining problems with fixed disagreement payoffs where risk-neutral agents have reached an agreement that is the Nash-bargaining solution (NBS). We consider a stochastic environment, in which the overall return consists of multiple pies with uncertain sizes and we examine how these pies can be allocated with fairness among agents. Specifically, fairness is based on the Aristotle’s maxim: “<em>equals should be treated equally and unequals unequally, in proportion to the relevant inequality</em>”. In this context, fairness is achieved when all the individual stochastic surplus shares which are allocated to agents are distributed in proportion to the NBS. We introduce a novel algorithm, which can be used to compute the ratio of each pie that should be allocated to each agent, in order to ensure fairness within a symmetric or asymmetric NBS.</p> </div

Second set of partitions.

<p>Second set of partitions.</p

Third set of partitions.

<p>Third set of partitions.</p

A general method for fair surplus division.

<p>A general method for fair surplus division.</p