Mathematical Problems in Engineering / 2018 / Article / Tab 2

Research Article

Contractual Efficiency of PPP Infrastructure Projects: An Incomplete Contract Model

Table 2

Competitive bidding equilibrium solutions (CBEs) in the basic model.

CBEsOrder relationships of the marginal service feesEquilibria of basic modelBidding priceLiquidationMoral hazard

1D××
2C×
3B×
4B×

Note. The ○ sign in the liquidation column means that the project continues, whereas the × sign means that the project is liquidated. The ○ sign in the moral hazard column means that a moral hazard does not occur, whereas the × sign means that a moral hazard occurs.

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