Table 1 Concession variables and models used by previous studies
S/N | Concession variables | Model used | Reference |
|---|---|---|---|
1 | Demand forecasting | System dynamic | Alasad et al. [29] |
Concession price and period | Road concession model | Arata et al. [30] | |
2 | Concession price and period | System dynamics causal loop (SDCL)-empirical testing model | Asiedu and Ameyaw [5] |
3 | Concession period | The “win-win” model and Monte Carlo simulation | Carbonara et al. [31] |
59 variables, including investment size, concession period, and project income | System dynamic | Ullah et al. [20] | |
Public policy | System dynamic | Pagoni and Patroklos [23] | |
Benefit, cost, government support, external situation, and private sector’s ability | System dynamic | Du et al. [14] | |
4 | Concession period, price, capital structure, government subsidy, and sustainability performance | The multi-objective optimization model | Alghamdi et al. [32] |
Subsidies, loss factor, and public sector position | Monte Carlo simulation | Lv et al. [25] | |
5 | Concession period | Concession period-mathematical model (partly assumptions-based) | Feng et al. [33] |
6 | Concession period and toll-rate structuring | Dual-variable approach | Gross and Garvin [34] |
7 | Internal return rate, payback tariff, and concession period | Stepwise approach (no model followed) | Hadi and Erzaij [35] |
8 | Concession period | Game theory-evaluating model | |
9 | Concession period and revenue sharing rate | Monte Carlo and risk premium approach | Kokkaew and Tongthong [36] |
10 | Concession period | Empirical model | Liu et al. [37] |
11 | Various critical performance factors include legal, technological, procurement, and economical. | Quantitative approach | Opawole et al. [38] |
12 | Concession price | System dynamic | |
13 | Concession price | Principal-agent theory | Yuan et al. [39] |
Subsidy and Concession Price | System dynamic | Yuan et al. [26] | |
14 | Concession period | System dynamic | Zhang et al. [40] |