Abstract
The modern theory of concessions dates back at least to 1859 when Chadwick released his discussion on “competition for the field”. The practice of concessions is believed even more ancient, to the “Middle Ages in France to license butchers and bakers.” Early concessions also occur in the water sector. For instance, “in 1777, the French government gave the Perrier brothers a 15-year concession to collect and distribute water to households in parts of Paris.” The success and favorable development in France propagandized the concession model worldwide, especially in the developing countries.
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