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Babaei, M, Rashidi-baqhi, A and Rashidi, M (2022) Estimating Project Cost under Uncertainty Using Universal Generating Function Method. Journal of Construction Engineering and Management, 148(02).
Bai, S, Li, M, Lu, Q, Tian, H and Qin, L (2022) Global Time Optimization Method for Dredging Construction Cycles of Trailing Suction Hopper Dredger Based on Grey System Model. Journal of Construction Engineering and Management, 148(02).
Che Ibrahim, C K I, Belayutham, S, Mohammad, M Z and Ismail, S (2022) Development of a Conceptual Designer’s Knowledge, Skills, and Experience Index for Prevention through Design Practice in Construction. Journal of Construction Engineering and Management, 148(02).
Ghafoori, M and Abdallah, M (2022) Simulation-Based Optimization Model to Minimize Equivalent Annual Cost of Existing Buildings. Journal of Construction Engineering and Management, 148(02).
Jia, F, Xiang, P and Chen, D (2022) Prioritizing the Operation and Maintenance Complexity of Mega Transportation Projects Based on Systems Thinking. Journal of Construction Engineering and Management, 148(02).
Lerche, J, Enevoldsen, P and Seppänen, O (2022) Application of Takt and Kanban to Modular Wind Turbine Construction. Journal of Construction Engineering and Management, 148(02).
Li, P, Wang, Q, Guo, Z, Mei, T, Li, Q, Qiao, S and Zuo, W (2022) Identifying Falling-from-Height Hazards in Building Information Models: A Voxelization-Based Method. Journal of Construction Engineering and Management, 148(02).
Li, X, Lu, W, Xue, F, Wu, L, Zhao, R, Lou, J and Xu, J (2022) Blockchain-Enabled IoT-BIM Platform for Supply Chain Management in Modular Construction. Journal of Construction Engineering and Management, 148(02).
Liu, K, Su, Y, Pollack, J, Liang, H and Zhang, S (2022) Explaining the Formation Mechanism of Intrateam Knowledge Exchange Network in Offsite Construction Projects: A Social Cognitive Perspective. Journal of Construction Engineering and Management, 148(02).
Park, J and Cho, Y K (2022) Point Cloud Information Modeling: Deep Learning–Based Automated Information Modeling Framework for Point Cloud Data. Journal of Construction Engineering and Management, 148(02).
Radzi, A R, Rahman, R A, Doh, S I and Esa, M (2022) Construction Readiness for Highway Projects: Key Decision Criteria. Journal of Construction Engineering and Management, 148(02).
Sanboskani, H and Srour, I (2022) Using Advanced Statistical Methods to Identify the Drivers of Knowledge Sharing Intention among Construction Workers. Journal of Construction Engineering and Management, 148(02).
Shehadeh, A, Alshboul, O and Hamedat, O (2022) Risk Assessment Model for Optimal Gain–Pain Share Ratio in Target Cost Contract for Construction Projects. Journal of Construction Engineering and Management, 148(02).
Yoon, J H and Pishdad-Bozorgi, P (2022) State-of-the-Art Review of Blockchain-Enabled Construction Supply Chain. Journal of Construction Engineering and Management, 148(02).
Zhang, C, Chen, K, Yang, J, Fu, J, Wang, S and Xie, Y (2022) Reuse of Discharged Soil from Slurry Shield Tunnel Construction as Synchronous Grouting Material. Journal of Construction Engineering and Management, 148(02).
Zhang, Y, Yuan, J, Zhao, J, Cheng, L and Li, Q (2022) Hybrid Dynamic Pricing Model for Transport PPP Projects during the Residual Concession Period. Journal of Construction Engineering and Management, 148(02).
- Type: Journal Article
- Keywords: Case-based reasoning; Public–Private-Partnerships (PPPs); Residual concession price; Residual value; Transport infrastructure;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0002218
- Abstract:
Public–Private-Partnerships (PPPs) have been adopted worldwide to deliver infrastructure projects and/or provide public services. Having a reasonable concession price (operation and transfer) in place is pivotal for sustaining a win-win relationship between governments and private sectors. However, historical data have shown that the concession price of PPPs when transfer is less than satisfactory due to the changing attribute of pricing parameters, causing substantial loss of residual value (RV). Nevertheless, a rational and systematic pricing model for PPPs, especially transport PPPs, is not yet available. To this end, a hybrid dynamic pricing model for transport PPPs during the residual concession period underpinned by the case-based reasoning technique is proposed. Furthermore, using a case study of the Western Harbor Crossing tunnel in Hong Kong, the proposed model is validated to be able to account for the dynamic pricing parameters and calculate a reasonable and accurate residual concession price. The contributions of this study are twofold: (1) it highlights that a reasonable concession price beyond the operation period is significant in maintaining RV; and (2) it provides a hybrid dynamic pricing model for governments and private sectors to calibrate the current less-than-satisfactory residual concession price.