A Concession Period and Royalty Bargaining Model for Transportation BOT projects
|關鍵字:||BOT計畫;特許年期;權利金;雙議題談判;Rubinstein議價賽局理論;BOT projects;Concession period;Royalty;Two-issue negotiation;Rubinstein bargaining game theory|
|摘要:||BOT 計畫之權利金與特許年期為涉及BOT 計畫特許契約的重要談判議題，決定適當的權利金與特許年期是避免特許公司獲得暴利或補貼特許公司財務缺口之機制。但目前權利金與特許年期並無合理的依循標準，且過去文獻中較少對於權利金與特許年期之雙議題談判進行研究，因此本研究透過Rubinstein 議價賽局理論構建交通建設BOT 計畫之權利金與特許年期的雙議題談判模式，其有別於過去單議題之談判模式。
The royalty and concession period of BOT are important negotiation issues in BOT concession contract. To determine the appropriate royalty and concession period is also a mechanism for a concessionaire to avoid obtaining the windfall or to grant a subsidy for the financial shortfall. However, royalty and concession period do not have a reasonable standard to follow at present, and the both issues of royalty and concession period negotiation model have seldom been explored in the past studies. So this study established the bargaining model for concession period and royalty through the Rubinstein bargaining game theory for transportation BOT projects, which is different from the past single-issue negotiation model. First, the private and public sector's bottom line of negotiations according to their financial plans of their viewpoints was eatablished in the model. Second, their bilateral starting point for negotiations was determined according to their preferences for the weighting of the two issues. Third, Rubinstein bargaining game theory was applied to build up the bargaining model which includes discount factor, bargaining cost, negotiation ability, negotiation starting value, the number of negotiation and the number of negotiation restrictions.The agreement point determined in the model shall be the most appropriate royalty and concession period. Through the model of this study, both the government and the optimal applicant can determinate the most appropriate outcome of the negotiations after weighting each issue, and they can also find the optimal agreement solution of their own largest reward and the worst solution of their smallest reward. In addition, the resulting model enabled a better understanding of the BOT concession negotiation process. Moreover, the study can provide a BOT negotiation strategy for both decision-makers, and even provide administrative department with some BOT policy amendments.
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