We analyze the contracting out of public service provision to private firms and compare the performance of for-profit and non-for-profit firms. We consider two alternative settings.In the first,the firm has control rights, as under the UK's Private Finance Initiative(PFI). In the second,the...

We use an incomplete-contract approach to compare contracting out by a public sector agency with the delegation of contracting out to a public-private partnership(PPP) that is a joint venture between private and sector agents. The PPP maximizes a linear combination of profit and social benefit....

In an incomplete contract setting, we analyze the contracting out of public service provision, comparing the performance of for-profit and not-for-profit private firms. Two institutional arrangements are considered, control rights lying either with the firm as under the UK's Private Finance...

We model public-private partnershios in building and managing facilities for the provision of public services. In particular,we analyze both the desirability of bundling the building and management operations, and the optimal allocation of ownership between the public sector and private firms....

In this paper we discuss the role of commercial non-profit firms in the provision of public services, referring to three case studies to illustrate the main issues. We consider problems of corporate governance, including the role of the board of members and the scope for performance-related pay....