Aiming at the public sector and the private sector in PPP projects as the research objects, the two core participants investment decision model is established by using option game thinking. First, based on the option ...Aiming at the public sector and the private sector in PPP projects as the research objects, the two core participants investment decision model is established by using option game thinking. First, based on the option game features PPP projects have, the paper proposes some research hypotheses on value, income, cost for the option. Second, on the basis of the decision path of a multi-stage binary tree model, respectively for the public sector and the private sector, the paper builds up utility functions, the cost-input model and the contract decision model. It indicates that by the use of growth options in the shortened contract period, the private sector can still ensure the construction quality of the PPP project. Finally, the validity of the model in the PPP project agreement and the investment decision process is verified by the case analysis.展开更多
文摘Aiming at the public sector and the private sector in PPP projects as the research objects, the two core participants investment decision model is established by using option game thinking. First, based on the option game features PPP projects have, the paper proposes some research hypotheses on value, income, cost for the option. Second, on the basis of the decision path of a multi-stage binary tree model, respectively for the public sector and the private sector, the paper builds up utility functions, the cost-input model and the contract decision model. It indicates that by the use of growth options in the shortened contract period, the private sector can still ensure the construction quality of the PPP project. Finally, the validity of the model in the PPP project agreement and the investment decision process is verified by the case analysis.
