A critical review of the application of TCE in the interpretation of risk allocation in PPP contracts

Chen-Yu Chang

Construction Management and Economics, 2013, vol. 31, issue 2, 99-103

Abstract: Along with the rise of public--private partnerships (PPPs) as a mainstream procurement system, we have seen a growing interest in studies of risk allocation in these projects. One of the serious academic endeavours is to apply both transaction cost economics (TCE) and the resource-based view (RBV) to explain risk allocation patterns found in PPP projects. The existing literature along these lines is deficient in three aspects: inappropriate choice of unit of analysis; poor specification of governance structure; and misinterpretation of asset specificity. A way for improvement is to analyse risk allocation in the context of PPP procurement in its entirety.

Date: 2013
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DOI: 10.1080/01446193.2012.726365

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