Simulation-based dynamic adjustments of prices and subsidies for transportation PPP projects based on stakeholders’ satisfaction

Jingfeng Yuan (), Wenying Ji (), Jiyue Guo () and Mirosław J. Skibniewski ()
Additional contact information
Jingfeng Yuan: Southeast University
Wenying Ji: George Mason University
Jiyue Guo: Southeast University
Mirosław J. Skibniewski: University of Maryland

Transportation, 2019, vol. 46, issue 6, No 17, 2309-2345

Abstract: Abstracts Public–private partnership (PPP) has been well acknowledged by many as an innovative approach to the procurement of public projects. In their long-term concession periods, various uncertain factors lead to the difficulties in implementing the concession contracts. Historical projects have proven that unexpected changes of projects will inevitably result in the adjustment of prices of the private sector and subsidies from the public sector. Therefore, a dynamic price and subsidy adjustment model is desired, to balance the satisfaction of all involved stakeholders (i.e., public sector, private sector, and general public). In the present study, a system dynamics model, which balances the tripartite satisfaction in PPPs, was established. A PPP bridge case study was conducted to demonstrate that the proposed model is applicable and can function for future PPP projects. Model validation, sensitivity analysis, model application, and result analysis were included as well. Further recommendations and conclusions were made to help practitioners to improve the model implementation in transportation PPP projects to increase the likelihood of achieving tripartite satisfaction. This research also sheds light on the price and subsidy adjustments for other types of PPP projects.

Keywords: Public–private partnership (PPP); System dynamics (SD); Price adjustment; Stakeholders’ satisfaction (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://link.springer.com/10.1007/s11116-018-9940-1 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:transp:v:46:y:2019:i:6:d:10.1007_s11116-018-9940-1

Ordering information: This journal article can be ordered from
http://www.springer. ... ce/journal/11116/PS2

DOI: 10.1007/s11116-018-9940-1

Access Statistics for this article

Transportation is currently edited by Kay W. Axhausen

More articles in Transportation from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().