Game Theory Research On The Investment Subjects Of Social Capital Participating In The Airport Project Construction

Since the "Twelfth Five-Year Plan",with the continuous expansion of China's airport construction scale,airport construction is facing increasing financial pressure,and social capital has played an increasingly important role in the construction of airport projects.In the "Opinions on Encouraging Social Capital to Invest in the Construction and Operation of Civil Airports" issued by the Civil Aviation Administration of China on October 25,2016,it was clearly stated that "the market for the construction and operation of civil airports should be fully opened." The road is gradually approaching.Encouraging social capital to participate in the construction and operation of civil airports has positive significance for broadening the sources of funding for airport construction,accelerating the construction of civil airports,and better serving national and local economic and social development.Based on this background,The relevant theories and practices of social capital participation on airport construction are reviewed.The investment model of social capital participation on airport projects,the implementation of China's social capital participation on airport project construction,and the motivation and influencing factors based on the government as well as social capital participation of airport construction are studied.Based on this,a game model is established.Starting from the behavioral choices of the government and social enterprises,the strategic equilibrium under different types of airport projects is found and the results from different angles are analyzed.The main analysis results are as follows.For the government,the punishment intensity and supervision mechanism are more restrictive to the company's due diligence;for enterprises,the types of airport projects and the ways of participation,as well as the risks of projects and government subsidies are the important factors that affect whether they participate in airport projects and their profits;for social benefits,the degree of due diligence of an enterprise is directly related to the social benefits that airport projects can bring.Finally,taking Taizhou Airport and Hangzhou Xiaoshan International Airport as case study objects,selecting specific airport project types for game analysis of investment subjects,of which the case of Taizhou Airport is an example analysis of the previous game analysis,and the case of Hangzhou Xiaoshan International Airport is the additional analysis carried out by similar projects aims to provide a practical reference for other domestic airports to attract social capital participating in project construction.