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  • Stanford Social Innovation Review

The Payoff of Pay-for-Success

By: V. Kasturi Rangan and Lisa Chase
  • Format:Print
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Abstract

Pay-for-success contracts also known as social impact bonds, have been widely touted as a clever way to fill the funding gap plaguing social programs by attracting a tranche of the trillions of dollars in private return-seeking capital. This article takes an in-depth look at the evidence from the first seven contracts in the U.S., to conclude that although that scenario is not likely, the pay-for-success model will have a positive impact, just not in the way that many proponents think.

Keywords

Impact Investing; Social Impact Bonds; Public Innovation; Social Enterprise; Investment; Innovation and Invention

Citation

Rangan, V. Kasturi, and Lisa Chase. "The Payoff of Pay-for-Success." Stanford Social Innovation Review 13, no. 4 (Fall 2015): 28–36.

About The Author

V. Kasturi Rangan

Marketing
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