Any contract or capital structure has peculiarities unto itself which general commentary can summarize. But this is an extreme challenge in the field of public-private partnerships.

Public-private partnerships can take a variety of shapes and sizes, with asymmetric agency concerns involved. Yescombe doesn’t address the full utility of individual agents and principals within asymetry (or work through complete n-actor, n-game game theory optimization), but the cautious reader can read between the lines as he walks through the details and he amply raises enough issues to stimulate thought.

Sub-specializations can often develop difficult technical jargon, and Yercombe does an excellent job unpacking the sometimes bewildering use of terms, while sticking to a presumption of a readership coming from a “Black’s” and common law perspective.

Yescombe covers a wide range: from general policy developed by government authorities to technical financial analysis, capital structure, procurement, financial and legal venue issues. Yescombe’s perspective as a practitioner gives a solidity to the subject matter, and provides an authoritative guide and reference for investors, bankers, companies providing infrastructure or services to public sector authorities and the public at large.

For now, this is the single best work for anyone interested in a public-private partnership.
Rating: 5 / 5