The Economics of Contracts provides a guided tour to the leading ideas in contract theory. It assembles some of the foundational writings on contracting under limited and asymmetric information, incentives and mechanism design. It contains, in particular, the key contributions of five recent...

This paper critically assesses the implications of contract design and risk transfer on the provision of public services under public-private partnerships (PPPs). Two results stand out. First, the alleged strength of PPPs in delivering infrastructure projects on budget more often than...

This paper critically assesses the implications of contract design and risk transfer on the provision of public services under public-private partnerships (PPPs). Two results stand out. First, the alleged strength of PPPs in delivering infrastructure projects on budget more often than...