“…Despite the widespread implementation of quasi‐markets, many studies have raised concerns over performance under this contractual form of PPP, including high transaction costs, inadequate integration between design and service delivery, and limited innovation (Bredgaard & Larsen, ; Petersen, Hjelmar, & Vrangbæk, ; Roehrich et al, ). Even after many years, the economic and financial benefits of contractual forms of PPPs are still unclear and subject to debate (Hodge, Greve, & Biygautane, ; Mouraviev & Kakabadse, ). This has been illustrated for quasi‐markets in PES in Australia, Denmark, the Netherlands, Germany, the United Kingdom, and Italy (Bredgaard & Larsen, ; Knuth, ; Van der Aa & Van Berkel, ; Van Gestel, ; Zimmermann et al, ).…”