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Published in:
2011 | OriginalPaper | Chapter
Public-Private Partnerships versus Traditional Procurement: Innovation Incentives and Information Gathering
Author : Eva I. Hoppe-Fischer
Published in: Essays on Contract Design and Incentive Provision
Publisher: Springer Fachmedien Wiesbaden
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In the last 15 years, public-private partnerships have become an increasingly popular method to let the private sector provide public infrastructure-based services in various sectors such as health care, education, and transportation. As has been pointed out by Hart (2003), a key property of a public-private partnership is the fact that facility construction and subsequent service provision are bundled and assigned to a single private-sector entity. An often heard argument in favour of public-private partnerships is that bundling encourages innovative design solutions during the construction phase that may reduce the subsequent costs of service delivery.