Research On The Dynamics Of Trust Between PPP Project Partners And Its Impact On Cooperation

Actually,the PPP model is a cooperative project operation mode established by the government and the private sector.Compared with the traditional financing model,PPP model has the characteristics of long investment cycle,unstable policy environment,and asymmetric information in the bidding process,which will bring uncertain risks to the cooperation of PPP projects.Once the risk occurs,when the stakeholders fail to obtain the expected benefits,they will have negative feelings of distrust.on the one hand,the relationship between professional investment of the subject is insufficient for fear of being the other knock "bamboo",on the other hand lack of trust to a certain extent,the subject will be more likely to take "opportunistic behavior",and trust is the foundation of cooperation,trust can resolve contradictions,reduce opportunism,can affect the project investment,eliminate barriers relationship and against thinking,promote the cooperation between each other.Different from general construction projects,in the long-term construction of PPP projects,the trust among various subjects is not fixed,and the development and evolution of trust is a dynamic process.On the one hand,the understanding between each subject will be deepened,and each other may have more trust with the passage of time and the deepening of cooperation.Of course,there will also be opportunistic behaviors of the other party due to the excessive trust of one party,which will damage the original trust relationship and lead to the deterioration of the relationship.Therefore,taking trust as a dynamic change process is conducive to a more authentic analysis of the causes of trust between the subjects of PPP projects,the analysis of the impact of trust on cooperation,and the guidance of healthy development of trust,so as to promote better cooperation between public and private sectors,and thus provide better services for the publicFrom the dynamic perspective of trust,this paper research the dynamic evolution of trust using the state transition equation and using evolutionary game method to study the effect of trust on the cooperation,the main research contents include:(1)this paper discusses the concepts and theories of inter-subjective cooperation and trust in PPP projects,including incomplete contract theory,transaction cost theory,psychological contract theory and specific asset investment,laying a theoretical foundation for the following research on trust mechanism of inter-subjective cooperation in PPP projects.(2)Based on the concepts and theories related to PPP,first of all,this paper identifies and classifies the stakeholders of PPP projects,and analyzes the relationship among stakeholders in PPP projects.Then,this paper discusses the dynamic factors of the cooperation between the main bodies of PPP projects,and further discusses the influence of trust on the cooperation in PPP projects.(3)Based on the analysis of the PPP projects of cooperation and trust relationship between the main body,this paper studies the dynamics of trust,constructs the state transfer model and the trust relationship stay model of cooperation between principals in PPP projects by using the state transfer equation in probability theory,and analyzes the model by means of simulation,revealing how trust between principals in PPP projects evolves and develops.(4)By using the asymmetric evolutionary game method,the main research object is the government and enterprises,the core stakeholders in PPP projects.the asymmetric payment matrix between the government and the private sector is constructed by taking the trust factor between the government and enterprises into consideration,and the stability of the evolutionary game system of government-enterprise cooperation in PPP projects is analyzed,to discover the influence of trust on the government and enterprises select cooperation strategy.(5)Based on the above research results,this paper proposes countermeasures and Suggestions on how to promote the cooperation between the subjects of PPP projects and how to maintain the cooperative relationship,so as to provide reference and guidance for relevant departments to make decisions.Based on the above research,the main conclusions are as follows: 1.With the continuous advancement of cooperation between PPP project subjects,the probability of trust relationship state transition decreases,the trust state tends to be stable,and the stay period of the trust state also extends;2.In the cooperation between project subjects,the strategy of not cooperating with the other party will meet the following two conditions: first,the government has certain trust in the enterprise;second,the penalty paid by the government and the enterprise to cheat the other party is lower than the loss when cheated.Through the research on the dynamic nature of trust and the influence of trust on PPP project cooperation,this paper analyzes the dynamic evolution process of trust in PPP project cooperation.This paper analyzes the dynamic evolution process of trust in PPP project cooperation through the study of the dynamic nature of trust and the influence of trust on the cooperation,and the analysis results can give some enlightenment to the participants of PPP project on how to enhance mutual trust and promote mutual cooperation.At the same time,based on the evolutionary game theory and taking the trust factor into consideration,this paper focuses on the stability in the evolution of cooperative game system between government and enterprises,analyzes the relationship between trust and cooperation,and how trust promotes the cooperation among the participants of PPP projects.Based on the above research results,this paper hopes to promote the cooperation between the government and the private sector to better play the role of trust in the future,formulate and improve the laws and policies of China's PPP projects,and provide Suggestions and references forthe application and development of the PPP model.