Study On Incentive Mechanism Model For PPP Project Based On Governmental Perspective

There is an information asymmetry problem between the government and social capital in PPP project.Because of the information asymmetry of the relationship,there are two especially behaviors during the project implement process:technological innovation and inhibit opportunistic behaviors.In order to exploit the advantages of operation and management of social capital in PPP projects better,as well as optimize the income distribution because the information asymmetry between the government and the social capital.Using incentive measures promotes technological innovation behaviors and punishment measures contain opportunistic behaviors.The model of incentive mechanisms about income distribution in infrastructure PPP project is studied in detail.Firstly,the cooperative management based on stakeholder theory in PPP project is studied;the interests’ demands of the main income distribution member are studied by the analysis of income distribution in PPP project.Secondly,the technological innovation and opportunistic behaviors of social capital and the coping mechanisms of government,namely incentive and punishment mechanisms are studied by analyzing the information asymmetry in PPP project;as well as an Incentive Mechanism Model about income distribution for PPP project is established.The costs of two behaviors and risks of social capital are considered,as well as the influence on income distribution from incentive mechanisms.Thirdly,the optimal incentive and punishment coefficient of the government and optimal effort level of two behaviors of the social capital are obtained through the use of Lagrangian Function.Effect of risk perception and two behaviors abilities on effort level of social capital and income distribution are obtained by analyzing the optimal solution of the mode.Finally,taking the sewage treatment plant project of High-tech Zone in N city for example,the analysis results are verified by assigning parameters in the model and using MATLAB software for numerical simulation.A systematic study on the cooperative relationship and the income distribution are conducted for infrastructure PPP project.A model of incentive mechanisms about income distribution in PPP project are build,which based on governmental perspective.Provide the reference for cooperative management and income distribution of PPP project.