The Pay‐for‐Success Contract: A Valuation Note

ABSTRACT Pay‐for‐success contracts are social and financial innovations in social policy and capital markets, respectively. This paper argues that they exhibit option‐like payoffs and implements standard option‐pricing arguments in assessing the value of investing in pay‐for‐success contracts. Sensi...

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Veröffentlicht in:	The journal of futures markets 2024-09, Vol.44 (9), p.1465-1473
Hauptverfasser:	Andrikopoulos, Andreas, Tsekrekos, Andrianos E.
Format:	Artikel
Sprache:	eng
Schlagworte:	Capital markets Contracts Innovations Juvenile justice option pricing pay‐for‐performance contracts pay‐for‐success contracts social finance social impact bonds Social policy Valuation
Online-Zugang:	Volltext
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