英语原文共 9 页，剩余内容已隐藏，支付完成后下载完整资料

2020届英文翻译

题 目: 中国环境与城市治理行业中公私合作项目的再 谈判博弈分析

目 录

目录

英文原文 2

Abstract： 2

1.Introduction 3

2.Literature review 6

3.Two-player bargaining game model 9

4. Multiplayer coalitional game model 15

5. Case study 20

6. Discussions and suggestions 21

7. Conclusions 24

中文译文 25

摘要 25

1.引言 26

2.文献综述 28

3.两人讨价还价博弈模型 30

4.多人联合博弈模型 36

5.案例研究 39

6.讨论和建议 41

7.结论 42

英文原文

A game theory approach for the renegotiation of Public-Private Partnership projects in Chinese environmental and urban governance industry

Abstract：

Public-Private Partnership (PPP) has been an effective and economic method for delivering environmental protection and urban projects. PPP has been widely adopted in project finance in developing countries such as China, in which environmental projects occupy the third largest number of projects. However, it is not possible to prepare a “perfect” contract accounting for all situations and uncertainties during the entire life cycle of a project. This will inevitably result in the renegotiation of the contract, with the circumstances and causes varying greatly from country to country. Environmental protection and urban projects are usually related to peoples livelihoods; thus, the frequent occurrences of renegotiations may result in increased costs, reduced management efficiency or even poor performance of projects. Hence, game theory is applied in this paper to tackle the problem of PPP renegotiations in the context of environmental and urban projects in China, with the goal of pursuing the successful application of urban multiparty PPP projects. The two-player bargaining game model and the multiplayer coalitional game model are both proposed to model the renegotiation processes, and equilibrium solutions and implications are then derived. Finally, the performance of the model is verified with an example, the sewage disposal PPP project in Erhai Lake, to examine cooperation surplus allocation. This methodology gives clarity to the analysis of the behavioral dynamics of stakeholders in PPP projects and could facilitate rational and cautious decision making by participants. The study can also provide theoretical foundations for policy makers on the effective implementation of PPP procurement and management in the environmental and urban governance industry.

Keywords: Public-Private Partnership, Renegotiation, Game theory, Environmental and urban governance

1. Introduction

A PPP (Public-Private Partnership) is a government service or private business venture which is funded and operated through a partnership between the government and one or more private sectors. It is an innovative cooperation between public and private sectors, involving a contract in which the private sector provides public goods or services and assumes financial, technical and operational risk in the project. PPPs may help to bring the role of the market into full play and facilitate local government management. They can also promote specialization and large-scale urban governance under the guidance of third parties.

PPP is an effective and economic way to deliver environmental protection and urban projects. Compared with general infrastructure PPP projects, environmental PPP projects present mainly the following features: (1) They are generally large projects with big investments, long concession periods, many unpredictable factors, weak anti-risk abilities and low return rates. They usually include new energy, solid waste management, environmental water treatment, etc. (2) Environmental PPP projects are commonly not that attractive to private investors due to their insufficient economic efficiency. PPP may effectively solve the problems of financing difficulties, difficulty in obtaining funds, and low management efficiency in environmental protection projects, and provide strong support for local environmental improvements. (3)The largest difference from general infrastructure projects is that environmental PPP projects have more social and ecological benefits in the long run, extending far beyond the concession period.

However, in practice, it is not possible to prepare “perfect” contracts covering all the situations and uncertainties during its whole life cycle, due to the limited rationality of people, the uncertainty of the external environment and the incompleteness of information (Domingues and Zlatkovic, 2015). Once unforeseen events occur during the operation, the original contract cannot effectively respond to these disturbances. Subsequently, renegotiations may arise. The issue of renegotiation is becoming increasingly important as a tool for addressing uncertainty in PPP projects and as a mechanism for restoring their economic an

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