Mathematical Problems in Engineering / 2018 / Article / Tab 3

Research Article

Contractual Efficiency of PPP Infrastructure Projects: An Incomplete Contract Model

Table 3

P-CBEs of the performance guarantee model.

P-CBEsFormation conditionIEquilibrium of the performance guarantee modelBidding priceLiquidationMoral hazard

1C1F×
2C1E

Note. The ○ sign in the liquidation column means that the project continues. 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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