Article by Wei Xiong,Huanming Wang, Carter B. Casady and Yilong Han.
The incomplete nature of PPP contracts makes it likely that parties will renegotiate ex post so that the governance of PPP projects can adapt to the complexity and uncertainty of the project life cycle. However, the academic literature on PPP – which largely focuses on managerial values of PPP such as value for money and cost efficiency – views contract renegotiations with suspicion.
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