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Ali, G M, Kosa, J, Bouferguene, A and Al-Hussein, M (2021) Competitive Assessment of Ice and Frozen Silt Mat for Crane Ground Support Using Finite-Element Analysis. Journal of Construction Engineering and Management, 147(06).
Alsharqawi, M, Abu Dabous, S, Zayed, T and Hamdan, S (2021) Budget Optimization of Concrete Bridge Decks under Performance-Based Contract Settings. Journal of Construction Engineering and Management, 147(06).
Han, B and Leite, F (2021) Measuring the Impact of Immersive Virtual Reality on Construction Design Review Applications: Head-Mounted Display versus Desktop Monitor. Journal of Construction Engineering and Management, 147(06).
Koc, K and Pelin Gurgun, A (2021) Assessment of Readability Risks in Contracts Causing Conflicts in Construction Projects. Journal of Construction Engineering and Management, 147(06).
Liang, Y, Ashuri, B and Li, M (2021) Forecasting the Construction Expenditure Cash Flow for Transportation Design-Build Projects with a Case-Based Reasoning Model. Journal of Construction Engineering and Management, 147(06).
Ma, G, Wu, M, Jia, J and Yang, W (2021) Two-Level Quality Decision Support System for Building Structural Damage Prediction and Maintenance Solution Recommendation in the Operation and Maintenance Phase. Journal of Construction Engineering and Management, 147(06).
Mohamed, M and Tran, D Q (2021) Risk-Based Inspection Model for Hot Mix Asphalt Pavement Construction Projects. Journal of Construction Engineering and Management, 147(06).
Pirzadeh, P and Lingard, H (2021) Working from Home during the COVID-19 Pandemic: Health and Well-Being of Project-Based Construction Workers. Journal of Construction Engineering and Management, 147(06).
Sharafi, A, Sadegh Amalnick, M and Allah Taleizadeh, A (2021) Outcome of Financial Conflicts in the Operation Phase of Public–Private Partnership Contracts. Journal of Construction Engineering and Management, 147(06).
- Type: Journal Article
- Keywords: Public–private partnership (PPP); Operation phase; Financial conflicts; Early termination; Stakeholder payoff; Non-zero-sum games; Cooperative games;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0002011
- Abstract:
Deviation from expected revenues is a common occurrence in the operational phase of public–private partnership (PPP) contracts. In these cases, the financial dispute must be resolved by key stakeholders such as the government, private investors, and end users; otherwise, the project will terminate early. Despite numerous reports of financial disputes, the literature lacks a comprehensive model for analyzing stakeholder strategies and examining the outcomes of PPP projects. In order to fill this research gap, this paper uses a three-player non-zero-sum game to extract the potential results of interactions among them. Then, using the concepts of game theory, the expected payoff players are calculated in the best individual strategy and cooperation terms, and the optimal outcomes are presented. The proposed model, on the one hand, examines the impacts of early termination, including the compensation mechanism of the government, the investment value of the private investor, and alternative services for users. On the other hand, it measures the expected payoff of players from participation in the project rescue. Applying this model can support strategic renegotiations and provide a fair and optimal structure to readjust contract variables (concession period, tolls, and government subsidy), which will facilitate and expedite the decision-making process in resolving financial conflicts.
Wang, X, Ye, K and Arditi, D (2021) Embodied Cost of Collusive Bidding: Evidence from China’s Construction Industry. Journal of Construction Engineering and Management, 147(06).
Ward, M, Poleacovschi, C, Faust, K and Svec, J (2021) Modeling Public Support for Utility Expansions in Displacement Situations. Journal of Construction Engineering and Management, 147(06).
Xue, J, Shen, G Q, Li, Y, Han, S and Chu, X (2021) Dynamic Analysis on Public Concerns in Hong Kong-Zhuhai-Macao Bridge: Integrated Topic and Sentiment Modeling Approach. Journal of Construction Engineering and Management, 147(06).
Zhang, Q, Chen, Z, Li, J and Liu, S (2021) Pressure-Cast-In-Situ Pile with Spray-Expanded Frustum: Construction Equipment and Process. Journal of Construction Engineering and Management, 147(06).
Zhang, X, Le, Y, Liu, Y and Liu, M (2021) Fostering Ambidextrous Innovation in Infrastructure Projects: Differentiation and Integration Tactics of Cross-Functional Teams. Journal of Construction Engineering and Management, 147(06).