In the paper, the existence of coordination mechanisms capable of achieving Pareto efficiency under uncertainty conditions (information asymmetry) is investigated. Referring to the deregu¬lation processes under way within the transport system, coordination mechanisms are modelled as principal-agent relationships, public sector being the principal and private operators being agents. It is shown that optimum incentive-compatible mechani¬sms (Nash equilibria) in a deregulated system leads to an inefficient allocation of resources unless agents are risk-neutral. It is also shown that using information as a strategic resource there is some room for efficiency improvement by monitoring agents and by repeating the agency relationship over time.
