Government subsidy and benefit distribution mechanisms for transportation PPP projects: An evolutionary game perspective
Public-private partnerships (PPP), as an important model for collaboration between the public and private sectors, is an urgent and critical topic due to the serious financial losses of governments involved in transportation PPP projects in recent years. Current research focuses on the government su...
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Veröffentlicht in: | Journal of environmental management 2024-05, Vol.359, p.120981-120981, Article 120981 |
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Sprache: | eng |
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Zusammenfassung: | Public-private partnerships (PPP), as an important model for collaboration between the public and private sectors, is an urgent and critical topic due to the serious financial losses of governments involved in transportation PPP projects in recent years. Current research focuses on the government subsidy model, in which the effective implementation of government subsidies relies on the design of incentives for stakeholder behavior. Although the positive externalities are strong, they are prone to the problem of “free riding,” which leads to low project performance and challenges in compensating for the government's financial losses. Therefore, this study proposes a novel dynamic subsidy mechanism that can be adjusted based on actual changes in transportation demand and that is linked to project performance. We use evolutionary game theory to construct a two-party evolutionary game model of the government and social capital, focusing on the stability and influencing factors of these interactions. Our research unveils that reaching specific thresholds in both the incentive coefficient and benefit distribution ratio induces an “positive management–negative management” shift in the behavior of involved parties, leading to enhanced project outcomes. Notably, fluctuations in operational quality substantially enhance the efficiency of the active management of private sector, with no discernible impact on the subsidy efficiency of the government. Therefore, our study provides a theoretical framework for improving the revenue allocation and government subsidy mechanism, which has theoretical and practical implications for enhancing the effect of government incentives and improving the quality of operational social capital.
•We examine dynamic subsidies' impact on public-private partnership performance.•A subsidy mechanism based on the changes in transportation demand is proposed.•The evolutionary game model analyzes decision-making interactions between the government and the social capital.•Certain thresholds in quality incentive and benefit distribution alter strategic behaviors, increasing project benefits.•Changes in project operational quality notably affect private sector decision-making over government. |
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ISSN: | 0301-4797 1095-8630 |
DOI: | 10.1016/j.jenvman.2024.120981 |