Leilões para conversão de dívida em investimentouma proposta da teoria de leilões para implantação dos termos de ajuste de conduta (TAC) da Anatel

Resumo

Since the privatization of TELEBRÁS system in 1998, Brazil has undergone an impressive expansion in telecommunications. At the same time, the debts of telecommunication operators, with increasingly high fines imposed by the regulator, have grown greatly. In 2012, ANATEL approved the possibility for operators to enter into TAC agreements to convert debt into investment projects. The crucial question is how to determine the debt-to-investment conversion rate. This paper proposes an auction mechanism for the endogenous determination of the conversion rate, optimally choosing the upwards bound of that rate. In addition, it discusses how the sequential structure of the problem allows the construction of an new mechanism of two sequential auctions that has the characteristic of creating asymmetry among the players in the second auction by offering a competitive advantage to the winner of the first one. The proposed mechanism aims to generate greater social welfare and ensure the implementation of selected projects.

Ficha do documento

Tipo

Artigo científico

Ano

2020

Instituição

Escola Nacional de Administração Pública - Enap

Fonte

Revista do Serviço Público

Idioma

Português

Acesso

Não informado

DOI

10.21874/rsp.v71i1.3967

Identificador

oai:ojs.pkp.sfu.ca:article/3967

Licença

http://creativecommons.org/licenses/by-nc-sa/4.0

Palavras-chave

TelecomunicaçõesTermo de Ajuste de CondutaConversão de dívida em investimentoDesenho de mecanismosLeilões sequenciais