consider the eff ect on incentives and risk transfer of bundling building and management stages into a single contract … overruns. We also consider how institutions, and specifi cally the risk of regulatory opportunism, aff ects contract design and …

choose and then design the contract to optimally balance the trade-off between incentives to limit the contractor's supply … cannot be easily described in - and enforced within - the contract, the procurer must use other tools to ensure successful …

effort and contract renewal is based on the performance record. In contrast with the career concern literature (e.g. Lewis …. Productive investment are crowded out by window-dressing effort in late contract periods, but it is boosted in early periods …. More frequent contract renewals strengthen reputational effects and result in improved performance if the relative cost of …