Multi-stage Incentive Mechanism For Urban Water Environment Treatment PPP Projects

Water is indispensable to people.However,with the rapid development of industrialization and urbanization,water ecological suffered severe damage in China.Water pollution,water ecological damage and other problems are increasingly prominent.The problem of water pollution has become one of the important factors restricting the economic and social development of our country,and has attracted the attention of the national and lo cal governments.The comprehensive treatment of urban water environment is a typical field of infrastructure and public services,with significant public welfare property,large investment,strong professional and strong operation and maintenance requirements.It is a field that is clearly appropriate and encouraged to carry out PPP model in the relevant policies of the State Council,Ministry of Finance,and the National Development and Reform Commission.In recent years,the urban water environment treatment PPP projects have entered the fast track of development.The performance evaluation system and incentive mechanism of urban water environment treatment PPP project are not perfect,and the lack of constraint in the operation and maintenance of the project itself,as well as the lack of incentive and incentive incompatibility in the operation and maintenance performance have brought huge challenges to the sustainable development of urban water environment treatment PPP project.The design of dynamic performance incentive mechanism in the operation stage of urban water environment treatment PPP project is regarded as the research object from the perspective of the government.This paper studies how the government makes effective contract terms and dynamic incentive performance mechanism to promote the private sector to provide high-quality public infrastructure and continuously improve service efficiency to achieve the balance of interests between the government and private sector.Based on the idea of "finding problems ? analyzing causes ? solving problems",the main contents of this paper are as follows:(1)The performance evaluation model of urban water environment treatment PPP project.Firstly,the project performance indicators are initially identified by means of literature research,technical specification,and expert interview.Then,through questionnaire survey and mathematical statistics,the performance index system of PPP project of urban water environment treatment with public participation is finally selected.Based on this,according to the characteristics of urban water environment treatment PPP project and the complexity and fuzziness of the data source of the index system,the performance evaluation model of urban water environment treatment PPP project based on cloud model and OWA operator is constructed,and the performance evaluation result of urban water environment treatment PPP project is finally obtained through calculation.(2)The performance incentive mechanism model of urban water environment treatment PPP project.Firstly,this paper briefly introduces the incentive mechanism problem of urban water environment treatment PPP project.Then,based on the principal-agent theory,the single-stage incentive mechanism model of urban water environment governance PPP project is constructed.On the basis of the incentive model,the reputation mechanism with performance as the "signal" is introduced to establish a multi-stage dynamic performance incentive model incorporating the reputation effect.Finally,the single-stage and multi-stage incentive mechanism models are analyzed in detail,and numerical simulation is used to analyze the influence of discount rate,uncertainty of private sector's qualification ability,marginal cost rate of effort level,and bargaining ability of private sector on benefit sharing coefficient,investment level,and effort level of private sector under different models.And based on the perspective of the government put forward the optimization of incentive policies.This study explores the relationship between performance and incentive through the performance evaluation model of urban water environment treatment PPP project and the dynamic incentive mechanism model under the reputation effect.By means of performance incentive,the intrinsic incentive mechanism of incomplete contract under reputation effect is revealed,and the flexible incentive contract under multi-stage dynamic game is constructed.The results not only enriches and improves the performance evaluation theory of PPP project,provides the theoretical basis for the performance incentive contract of PPP project,but also plays a good reference and demonstration role for the eco-environmental PPP project.These study results have an important application value for the operation management and performance improvement of major projects and the improvement of social public infrastructure service level.