Benefit Optimization Of PPP Project Based On Shapley-Stackelberg Game

Private-public partnership(PPP)is a partnership between the government and the social capital for the provision of high-quality public goods or services,and the rights and obligations of each partner are determined contractually.In recent years,PPP model has been widely used,but there are still some problems,such as imperfect management system and legal system,risk factors,financing difficulties,unreasonable benefit distribution process and so on.In order to solve the problem of maximizing the social benefits of PPP projects and the balanced distribution of public and private interests,it is necessary to study its deeper interest structure and internal relationship,so that the government and the social capital can obtain the maximum benefits recognized by each other.First of all,this paper expounded the essential characteristics and operation process of PPP mode,and analyzed the difference between PPP mode and traditional government procurement mode.Secondly,on the basis of literature research and expert investigation,the paper identified several factors that affected the benefit optimization of PPP project from the angle of social benefit maximization and benefit equilibrium distribution,and took the selected financial subsidy and market pricing mechanism as the main analysis indicators to realize the social benefit maximization.The Stackelberg game theory was used to establish an optimal financial subsidy model which could not only maximize the social benefits of PPP projects,but also achieve the expected return on investment in the social capital.On this basis,combined with the principle of balanced distribution of interests,the improved Shapley value theory was used to modify the coefficient of public and private interest distribution.The revision of the model included risk sharing coefficient,capital factor investment proportion,contract execution degree and contribution degree,so as to realize the balanced distribution of public and private interests.Finally,a case was given to verify the feasibility and applicability of the Shapley-Stackelberg game PPP project interest optimization model.This paper provided a more practical research method and research results for the benefit optimization of PPP projects.It not only enriched the government's financial subsidy mechanism and the important influence of market pricing on the realization of the benefit maximization of PPP projects,but also deepened the Shapley value benefit balanced distribution theory,which could provide reference for the benefit optimization of government and social capital of PPP projects in China.